Brazil prices move lower

摘要

Low demand and high stocks have conspired to push granular MOP prices lower in Brazil this week. Buyers are under no pressure to book cargoes as there are a multitude of competing offers available. Financial insecurity amid a lack of credit remains an overriding concern with domestic sellers keen to liquidate stocks rather than face payment defaults. Over 100,000t of MOP that arrived in Paranagua port in June is yet to berth, illustrating the lack of storage capacity and minimal MOP movement inland from the ports.