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The US Department of Commerce issued final affirmative countervailing duty determinations on phosphate fertilizer imports from Morocco and Russia. It set a 19.97% subsidy rate for OCP, rates of 9.19% for PhosAgro and 47.05% for EuroChem, and 17.2% for other Russian producers.
The US International Trade Commission's injury ruling is due by mid-March.
If the ITC ruling is affirmative, duties would restrict lower-priced Moroccan and Russian phosphate imports, tightening US supply and supporting DAP and TSP prices.
investors.mosaicco.comFeb 9, 2021
dtnpf.comFeb 11, 2021Not enough comparable past events yet for a historical read.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% over 20.
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.
