Brazil MOP prices rebound as new India contract settled

摘要

Indian importer IPL agreed a new potash contract with Canadian supplier Canpotex at $230/t CFR on May 12, with producers achieving a subsequent rebound in granular MOP spot prices in Brazil. The new India contract price is down $50/t from the prior level agreed in October 2019. It was largely in line with expectations and follows the settlement of a fresh Chinese import contract price at $220/t CFR two weeks ago. Producers will hope for an improvement in Indian demand following the price decline.