Operational ChallengesMOS announced operational challenges at both its potash and phosphate segments that reduced production volumes and shipments in 3Q24.
Pricing PressurePotash pricing continues to drift lower with MOP selling price (fob mine) of $224/t, down $17/t or 7% from 2Q, and is expected to be $200-$220/t in 3Q, as global prices drift lower post the China/India contract settlements.
Sales Volume ImpactMOS is now guiding to sales volumes in 3Q24 that will be 200-300k lower (9-14%) vs. the prior range of 2.1-2.3 million tonnes due to electrical equipment failures at both its Esterhazy and Colonsay mines.