Loading…
China's importing consortium settled a new potash import contract on April 30 at $220/t CFR with BPC, ending a wait of more than 19 months. The price is $70/t below the previous September 2018 contract and only $1/t above the 2016 decade low.
Record stocks in Chinese bonded warehouses mean import volumes may stay weak for months.
The settlement sets a new floor for potash, but heavy inventories suggest spot prices will not respond until later in 2020. Buyers should expect soft potash pricing in the near term.
crugroup.comAuthor Gavin Ju, Humphrey Knight China PotashMay 6, 2020Not 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.
