The global potash market remained largely inactive this week but key prices have seen further falls as players continue to await talks over the Chinese and Indian contracts. In addition, Uralkali announced a new production strategy in the wake of the Solikamsk-2 flood and strikes at ICL’s Dead Sea Works have entered their third week without a solution. The potash market is becoming increasingly agitated over the Chinese contract as talks have stalled and a return to negotiations is not expected until at least next week. The delay is serving to support a downward trend in potash spot prices worldwide and helps Chinese representatives looking for less than a 5% increase on the current $305/mt CFR price. As the spring application season nears suppliers may become more willing to negotiate down from the roughly 8% increase they are currently hoping for and prices should be settled at $315-320/mt CFR.
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