U.S. Gulf: The last done potash business was called $315-$320/st FOB. No new prompt business was reported. Price ideas for third-quarter trades were off a few dollars.
Eastern Cornbelt: Potash remained in a broad range at $365-$397/st FOB in the Eastern Cornbelt, with the low reported out of spot river locations in Illinois and the upper end FOB inland warehouses in Ohio.
Western Cornbelt: The potash market was quoted at $360-$370/st FOB in the Western Cornbelt. Sources reported no summer fill program announcements for potash last week.
California: Potash was unchanged at $518-$535/st FOB warehouses in California, 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, depending on grade and location.
Crystalline potassium nitrate was steady at $950/st FOB for bulk and $1,020/st FOB for bags.
Sulfate of potash (SOP) remained at $722-$735/st FOB in the state.
Pacific Northwest: Potash was reported at $460-$475/st FOB in the Pacific Northwest, depending on grade and location. Rail-delivered tons were quoted in roughly the same range last week, with the low reported by Washington sources for 60 percent MOP from Canada. Sources said producers “are not in a hurry to repost until there is more interest in a fill program.”
The potash market FOB Utah mines was steady at $420/st FOB for 60 percent standard and $425/st FOB for 60 percent granular.
The sulfate of potash (SOP) market was unchanged at $737-$747/st FOB in the Pacific Northwest.
SOP Magnesia remained at $481-$501/st FOB in the region.
Western Canada: Potash remained at $470-$480/mt FOB inland warehouses in Western Canada, with the Saskatchewan mine price quoted at $445-$450/mt FOB to Canadian customers. Sources reported no summer fill offers in the region yet last week.
India: ICL said on June 19 that it has signed several contracts for the supply of an aggregate of 835,000 mt of potash to its customers in India, including options. The selling price is $10/mt above previous contracts, and in line with recent business to India.
Sri Lanka: The Ministry of Agriculture has issued a purchase tender for 28,700 mt of standard potash for delivery in 50 kg bags during September. The tender, which closes June 29, calls for shipment in two lots of 12,000 mt and 16,700 mt.
Southeast Asia: Prices remain weak in Indonesia and Malaysia. While sources report that some suppliers have raised their prices to around $330/mt CFR for standard potash in these markets, that level has yet to be achieved.
Indeed, two tenders for a total of close to 20,000 mt of standard material were reported to have concluded recently with Malaysian buyers at just $300/mt CFR. In Indonesia as well, standard potash business is reported at no higher than $320/mt CFR.
Prices in smaller markets in the region, such as Vietnam and Thailand, are reported to be holding at around $330-$345/mt CFR for standard material.