It might be awhile before the market sees a potash industry recovery. However, according to a special report from TD Economics, the road to recovery exists somewhere amidst the haze of uncertainty.
Articles Tagged "china"
It was only a matter of time before another deal was done in the potash market.
This week, Uralkali announced that it has signed a supply contract with China for $305 per metric ton, a 24-percent discount to the previous year.
It's time to say goodbye to 2013. But before we go, here's what you should expect from the 2014 potash market.
Reuters reported that Sinochem has extended an agreement to buy potash from Canpotex, North America's potash marketing arm, by one year
The Economic Times of India reported that India has purchases 160,000 tonnes of diammonium phosphate from China at the lowest price in over six years, marking what could be a price benchmark for other purchasers.
Reuters reported that both India and China are working to take advantage of market upheaval by seeking price cuts of 25 percent or more.
Bloomberg reported that OAO Uralkali (LON:URALL) has exited a marketing venture which maintained control of about 43 percent of global exports, suggesting the prices may soften as they go it alone.
Migao Corporation (TSX:MGO) announced that they intend to create a joint venture with EuroChem for production of up to 60,000 tonnes of potassium nitrate and up to 200,000 tonnes of chloride-free NPK fertilizers in Yunnan in China.
Potash prices are still on the low side, and some fertilizer buyers are taking advantage of the opportunity to stock up on the much-needed fertilizer.