Indian potash contract wait continues as Uralkali confirms Chinese volumes

摘要

Prices in the potash spot markets remain at stable lows with some further drops as the new Indian potash contract remains elusive, slowing suppliers' attempts to recover potash prices through Q2. Uralkali signed its quantity agreement to China late April 10, announcing firm seaborne volumes of 850,000 mt to Sinochem, CNAMPGC and CNOOC. Canpotex recently concluded a 1.8 million mt firm agreement, BPC signed a firm 1.7 million mt and APC a firm 600,000 mt. All deals were done at $315/mt CFR.