Bloomberg reported that Uralkali has agreed to cut cut prices for China’s Sinofert Holding Ltd. (297) by $70 a metric ton.
As quoted in the market report:
China and India, the two largest potash buyers, put off purchases of the crop nutrient last year as stockpiles grew. China’s $470-a-ton contract expired in June, while India’s $490- a-ton supply deal ended at the end of the first quarter of 2012. Uralkali had expected to sign a new agreement with China by last May, Chief Executive Officer Vladislav Baumgertner said Dec. 20, conceding that both countries sought a “small discount.