Potash

Reuters reported that the world’s largest potash producer Uralkali (LSE:URALL) has agreed to a less than planned $10 per tonne increase in sales to China this year.

Reuters reported that the world’s largest potash producer Uralkali (LSE:URALL) has agreed to a less than planned $10 per tonne increase in sales to China this year.

As quoted in the market news:

The potash market came under pressure as competition between producers strengthened sharply after Uralkali broke away from a trading venture with Belarus in 2013.

Uralkali agreed to supply 850,000 tonnes of potash at $315 per tonne on a cost and freight (CFR) basis in 2015, the company said in a statement, equal to the price agreed by Belarus with China in March.

The contract agreed by Belarussian Potash Co has set a benchmark for other producers despite being criticised by Uralkali as it had been negotiating an increase of $30 per tonne.

Uralkali’s main rival Canpotex Ltd, the offshore potash sales arm of North America’s Potash Corp of Saskatchewan (TSX:POT,NYSE:POT), Mosaic Company (NYSE:MOS) and Agrium Inc (TSX:AGU,NYSE:AGU), signed a contract with China in late March, but did not release price terms.

Click here to read the full Reuters report.

Featured

MARKETS

Markets
TSX20590.98+19.68
TSXV847.21+8.80
DOW34297.73-66.77
S&P 5004356.45-53.68
NASD13539.29-315.83
ASX6961.60-177.90

COMMODITIES

Commodities
Gold1847.19-2.35
Silver23.92+0.03
Copper4.53+0.07
Palladium2236.50+49.50
Platinum1047.50+18.50
Oil86.05+0.45
Heating Oil2.65+0.02
Natural Gas4.25+0.19

DOWNLOAD FREE REPORTS

×