U.S. Gulf: The last done potash barge business continues to be put at $305/st FOB. While some players say that is the bottom, others say $295-$300/st FOB is possible if buyers would come forward.
Eastern Cornbelt: Potash was quoted at $345-$355/st FOB regional warehouses in the Eastern Cornbelt.
Western Cornbelt: The potash market remained at $345-$355/st FOB out of warehouses in the Western Cornbelt, depending on grade and location, with unconfirmed reports of spot deals as low as $340/st FOB from domestic suppliers.
Southern Plains: The warehouse potash market had reportedly slipped to $340-$350/st FOB in the Southern Plains. 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 $345-$350/st FOB in the South Central region, reflecting a $5/st drop from July pricing levels.
Southeast: Fill prices for potash remained at $355-$362/st FOB and $360-$272/st rail-DEL in the Southeast, depending on grade and location.
Southeast Asia: The region remains largely out-of-season, and no new significant business was reported in the bigger volume markets of Malaysia and Indonesia. Prices in Malaysia are assessed at $305-$315/mt CFR for standard material, and in Indonesia at around $320/mt CFR for standard.
Vietnam this month will see the delivery of two cargoes of 25,000-30,000 mt from Uralkali, which are understood to include a mix of standard and granular material. A similar sized cargo is also on the water from Belarus Potash Co. (BPC), and is also for August delivery. The standard tons were reportedly priced at $325-$330/mt CFR.
India: National Fertilizers Ltd. (NFL) closes a tender Aug. 21 for the import of 50,000 mt of pink potash (+/-5 percent) for delivery in the second half of October. The tender calls for shipment in two 25,000 mt lots to Kandla or Mundra and to Gangavaram. NFL in June scrapped a tender it had issued in April for the same quantity of potash.
Brazil: Demand for potash remains weak, with suppliers reportedly struggling to complete new business. High inventories, along with a further deterioration in the real against the U.S. dollar, are adding to the pressure on prices.
Granular potash prices slipped further, with some sources claiming that sales for August have been concluded in the $315-$320/mt CFR range. One source believed even $310/mt CFR could be secured.
That said, a major supplier continues to maintain that the market level is around the $325/mt CFR mark, while another remains optimistic that $330/mt CFR can be achieved over the next month. Not that long ago, suppliers were targeting $340-$345/mt CFR for July and August deliveries.
Sri Lanka: A tender for 25,000 mt of MOP by the agriculture ministry closed Aug. 7. The ministry is looking for late October shipping.
The tally for the tender follows:
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Sri Lanka Agriculture Ministry MOP Tender for 25,000 mt |
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