Potash spot market continues to decline on contract delay

摘要

Global potash spot prices continue to fall as players await news on the delayed Chinese contract ahead of spring applications worldwide. Pressure continues to mount on suppliers with no new information regarding Chinese contracts. Without a set benchmark low price for potash, a position which the Chinese contract tends to take, and with significant currency depreciation in key regions, many sources expect prices to see further falls in the spot markets. Producers worry that they could miss the spring selling season in China and, as the delay continues, their negotiating position weakens.