Uralkali Pulls Back Chinese Spot Sales in Effort to Lift Contract Prices

Bloomberg reported that Uralkali has reduced rail shipments to China in an effort to put downward pressure on spot market sales and prices.

As quoted in the Bloomberg report:

China’s stockpiles have grown to about 4 million metric tons, and the domestic price for the fertilizer remains low, Baumgertner said. Producers including Uralkali have signed first-half supply agreements at a discount to previous contracts. Uralkali is the only overseas potash supplier with rail links to China, enabling it to sell on the spot market.

To view the whole Bloomberg report, click here.