Intrepid announced on May 10 that it is raising potash prices by $20/st, effective immediately. Postings FOB Carlsbad, N.M., moved up to $450/st for 60 percent white granular and $457/st for 62 percent white standard. Postings FOB Moab and Wendover, Utah, firmed to $445/st for 60 percent white standard and $450/st for 60 percent white granular.
The price for Egyptian urea has jumped from $355/mt FOB to $359/mt FOB just in Monday trading. The run-up in prices is reportedly because of strong demand from Latin America and the possibility of another Indian tender being called soon. Egypt closed last week with a high price of $350/mt FOB. Chinese producers are also offering granular at $350/mt FOB, a jump of $5-$10/mt from last week.
Incitec Pivot Ltd. (IPL) reported today its Waggaman, La, ammonia plant went down again on May 8, due to a coupling failure on the refrigeration compressor, upon which the facility was safely shutdown.
The company said the plant had restarted production in mid-April as expected and operated successfully at nameplate capacity for two weeks when it unexpectedly tripped upon the failure of a vibration probe. After repairs, the subsequent restart process was stopped on May 8.
The restart of the plant is expected to take two-to-three weeks. IPL said the additional impact to FY2021 earnings before interest and tax (EBIT) from the initial trip to the expected restart of the plant is estimated to be between A$33m and A$42m (or A$26m and A$33m on a net profit after tax basis).
