U.S. Gulf: Potash barge prices cratered again last week, with new sales as low as $198/st FOB. Others put the market in the $202-$205/st FOB range.
In the meantime, Gavilon is bringing in a 25,000 mt vessel next week loaded with BPC product.
Eastern Cornbelt: The potash market was pegged at $240-$260/st FOB in the Eastern Cornbelt, with the low end of the range confirmed for spot offers in the Illinois market in early February. The low end of the range reflected another $10/st drop from the previous week.
Western Cornbelt: Sources confirmed the low end of the potash market at $240/st FOB on a spot basis in the Western Cornbelt, and this was for “small quantities.” The upper end of the regional range remained at the $260/st FOB reference levels for producer tons ordered by Feb. 5.
Southern Plains: Sources reported significantly lower potash prices in the Southern Plains in early February. The market FOB Carlsbad, N.M., had reportedly dropped to $260-$267/st FOB from Intrepid, down $40/st from last report, with the low for red granular and the upper end for 62 percent white. The potash market FOB Catoosa was down to $255-$260/st FOB.
SOP Magnesia FOB Carlsbad was lower as well, with sources quoting the market at $350-$355/st, down $35-$45/st from the previous level.
South Central: The potash market was pegged at $260-$275/st FOB warehouses in the South Central region, down $5-$20/st from last report, depending on location. The low end of the range was once again reported in the Memphis market, with the upper end in Arkansas.
Southeast: Potash experienced big pricing declines in the Southeast in early February. Sources quoted the market at $250-$260/st FOB port terminals and $270-$275/st rail-DEL in the region, down $20-$30/st from last report. Sources were uncertain if the new levels would generate new sales, however.
Northwest Europe: Demand remains weak, with prices for granular material currently assessed at €280-€300/mt CIF.
Israel: Potassium nitrate was put in the $800-$1,000/mt range last week, with the wide range depending on grade or whether bulk or bagged.
Nepal: The Nepalese government has a tender for 5,000 mt of MOP closing Feb. 15. The tender includes calls for DAP and urea.
Product is to be bagged and delivered to a Nepal warehouse on the Indian border.