U.S. Gulf: New potash business at NOLA was put at $350-$355/st FOB, with buyers seeking product in the $340s/st FOB.
Eastern Cornbelt: Potash remained at $395-$410/st FOB regional warehouses in the Eastern Cornbelt, depending on grade and location, and the low quoted in the Cincinnati market.
Western Cornbelt: Potash pricing remained flat in the $400-$410/st FOB range out of regional terminals in the Western Cornbelt. One source said there have not been many “serious inquiries” for new business because most have tons already positioned.
California: Potash was steady at $518-$535/st FOB warehouses in California, depending on grade and location, with the low for 60 percent and the upper end for 62 percent granular or soluble. Delivered potash remained at $525-$535/st in the state.
Crystalline potassium nitrate was unchanged at $950/st FOB for bulk and $1,020/st FOB for bags.
Sulfate of potash (SOP) was steady at $722-$735/st FOB in California.
Pacific Northwest: Potash was unchanged at $461-$475/st FOB and roughly $480-$495/st DEL in the Pacific Northwest, depending on grade and location. The potash market FOB Utah mines remained at $420/st FOB for 60 percent standard and $425/st FOB for 60 percent granular.
The sulfate of potash (SOP) market was quoted at $747-$757/st FOB in the region, with reports of improving spot market supplies due to dealers not taking all of their allocations.
The SOP Magnesia market had reportedly ticked up to $481-$501/st FOB in the Pacific Northwest, with continued reports of “very short” supplies.
Western Canada: The regional potash market was steady at $470-$480/mt FOB inland warehouses, with the Saskatchewan mine price quoted at $445-$450/mt FOB to Canadian customers.
Brazil: Granular MOP trades continued to move down on reports of $335-$350/mt CFR business, with the high end of the range representing smaller trades.
Southeast Asia: Standard MOP prices in Malaysia are still being reported as low as $315/mt CFR.
Uralkali is reported to have agreed to two cargoes +/-25,000 mt each for Vietnam at about $335/mt CFR.
Indonesia’s Sinar Mas reportedly closed a tender last week for 100,000 mt of MOP.
Europe: Following recent increases in MOP prices in the European market to offset the weak euro, SOP prices are now reported to have edged up to €450-€470/mt FCA for typical short-term contracts.
India: The MOP contract price increase reached between BPC and a consortium of Chinese buyers last week, which represented only a $10/mt increase on the year-ago contract, has reinforced talk that Indian first-half import contracts will be signed only slightly higher than the current price of $322/mt CFR with 180 days’ credit.
National Fertilizers Ltd. has issued a tender for the import of 50,000 mt of pink MOP, which closes on April 13. The tender calls for delivery in the first half of May in two shipments of 25,000 mt to several ports:
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