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BPC confirmed a new standard MOP contract with Indian importer IPL at $383/t cfr with 180 days of credit for June to December deliveries. That is $34/t above the previous Indian contract and $35/t above China's recent contract.
Volumes are expected to be around 650,000t.
A higher Indian contract price signals firm global potash demand and tight supply, supporting MOP prices. The premium over China is also well above the historical average.
argusmedia.comJulia CampbellMar 25, 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.
