U.S. Gulf: The NOLA granular potash market continued to be reported at $305-$310/st FOB.
Some suggested that the market may have bottomed as there is very little BPC product, if any, remaining on the river. There also does not appear to be any on the way, at least in the near term, according to sources, who say this is more likely economics rather than any concern over legislation being proposed in Congress (GM July 20, p. 1).
Eastern Cornbelt: Potash fill was pegged at $345-$355/st FOB for red and $362/st FOB for white granular tons, with rail-DEL potash fill quoted at $360-$367/st in the Eastern Cornbelt.
Western Cornbelt: Potash fill was quoted at $350-$362/st FOB out of warehouses in the Western Cornbelt, with the low end for red and the upper end for white granular tons. Rail-delivered fill tons remained at $360-$367/st.
Southern Plains: The warehouse potash market was pegged at $355-$365/st FOB in the Southern Plains for fill tons. Reference prices FOB Carlsbad, N.M., included $360/st FOB for 60 percent standard, $365/st FOB for 60 percent granular and 62 percent standard, and $372/st for 62 percent granular.
The SOP Magnesia market FOB Carlsbad remained at $385-$400/st, depending on grade.
South Central: The potash warehouse market was tagged at $350-$355/st FOB in the South Central region.
Southeast: Fill prices for potash remained at $355-$362/st FOB and $360-$267/st rail-DEL in the Southeast, depending on grade.
Brazil: Potash prices are reported to be weakening further. Sources say buyers’ ideas for granular material are around $10/mt CFR below the $325-$340/mt CFR currently being indicated by suppliers.
Vale said it produced 111,000 mt of potash at its Taquari-Vassouras mine in the second quarter of 2015, marginally up from 108,000 mt in the first quarter and 15.6 percent higher than last year’s second quarter volume of 96,000 mt. First-half production volumes were 219,000 mt, up from 206,000 mt in 2014.
The mining major attributed improved physical availability at its processing plants for the year-over-year upturn. The Taquari-Vassouras mine, located in Sergipe state, is presently Brazil’s only potash mine.
Southeast Asia: The market remains largely out of season and prices continue to be seen as weak, with standard material assessed in the $305-$330/mt CFR range and granular at $325-$340/mt CFR. Prices for standard potash in the region’s larger markets of Malaysia are reported as low as $305/mt CFR, and in Indonesia at $315-$320/mt CFR.