U.S. Gulf: NOLA potash barges remained under pressure last week, with new trades put in the $280-$285/st FOB range. Others predicted lower. Trammo now has BPC product in NOLA to sell.
Eastern Cornbelt: The Eastern Cornbelt potash market remained flat at $330-$340/st FOB most regional warehouses.
Western Cornbelt: Potash pricing in the Western Cornbelt was reported in a broad range at $320-$340/st FOB regional warehouses, with the low reported out of spot river locations and the upper end out of inland terminals.
California: California potash pricing was down some $8-$10/st from last report, with the market pegged at $464-$470/st FOB warehouses and $475-$485/st DEL in the state, depending on grade and location.
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 remained at a nominal $410-$420/st FOB in the Pacific Northwest, depending on grade and location, with rail-delivered tons quoted at $415-$425/st. Potash pricing FOB Utah mines was steady at $360/st FOB for 60 percent standard and $365/st FOB for 60 percent granular.
The sulfate of potash (SOP) market was unchanged at $727-$737/st FOB in the Pacific Northwest.
SOP Magnesia pricing was up $20/st as of Oct. 1, to $463-$483/st FOB in the region.
Western Canada: Potash was steady at $470-$480/mt FOB regional warehouses in Western Canada, with the Saskatchewan mine price quoted at $445-$450/mt FOB to Canadian customers.
Brazil: Sources report that sellers remain reluctant to conclude potash deals amid a further weakening in the real. Already the worst performer of any major currency this year, the real dipped below R$4 to the dollar this week, another record low since its introduction in 1994.
Sources quoted Brazilian delivered prices for granular potash lower at $300-$305/mt CFR, with buyers’ ideas as low as $290/mt CFR and earlier reports of unconfirmed deals at $300/mt CFR.
Southeast Asia: Potash buying sentiment remains weak across the region’s import markets as ongoing currency woes take their toll on demand.
In Indonesia and Malaysia, plantation buyers have yet to enter the market with new tenders. The Malaysian ringgit and Indonesian rupiah revisited 17-year lows against the U.S. dollar last week. Until last month’s rally, palm oil prices were also heading south, further curtailing potash buying interest.
In the absence of any new potash sales reported across the Southeast region, the price range for standard material remains at $300-$320/mt CFR. Sources say these price levels are purely indicative, however with buyers’ ideas reported at around $290/mt CFR in those markets.