- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Belarusian Potash Co. Agrees to Supply Potash to China for $315 Per Tonne
Bloomberg reported Thursday that Belarusian Potash Co. has signed a deal with China and will supply the country with potash at a price of $315 per tonne which includes shipping costs. Russia’s Uralkali (LSE:URALL) reportedly said the price was “significantly” less than possible, despite it being up $10 per tonne from last years price.
Bloomberg reported Thursday that Belarusian Potash Co. has signed a deal with China and will supply the country with potash at a price of $315 per tonne which includes shipping costs. Russia’s Uralkali (LSE:URALL) reportedly said the price was “significantly” less than possible, despite it being up $10 per tonne from last years price.
As quoted in the market news:
The price China pays for potash has been the market benchmark for more than a decade and is usually set at the start of the year. This year, China’s higher inventories and falling prices on the domestic spot market allowed buyers to stretch negotiations well into March, raising concerns that the biggest potash consumer would drive down prices worldwide or settle for spot purchases over contracts.
The Belarus contract “underscores the newfound competitive intensity in global potash markets,” Goldman Sachs analysts said in a note. “We believe news of a $10 per metric ton price increase will be viewed negatively by the market, where major producers had been publicly aiming for up to a 10 percent increase.” Goldman Sachs had used a Chinese contract price of $320 per metric ton in its models, according to the note.
Signing the contract later than March would be disastrous for the market. The agreement will serve as a positive signal to the market, help to make it more active, boost stability and confidence of all participants.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.