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Uralkali agreed a potash contract with Chinese importers at $273 per metric ton, down from $307 in 2023. Morningstar expects this to set the Canpotex contract price for China and India and to act as a floor for spot prices.
A lower China contract price resets the benchmark for global potash, pressuring spot prices and producer margins. Canpotex and other suppliers are likely to follow the lower level.
morningstar.comSeth GoldsteinJul 9, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
