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Belarusian potash marketer BPC signed a supply contract with a Chinese consortium led by Sinochem's fertilizer arm at $220 per tonne, down $70 from the previous contract. Potash stockpiles are at record highs, and analysts expect spot prices to respond later in 2020.
The lower benchmark contract price sets a new floor for potash, which signals weak fertilizer costs for crop producers while stockpiles clear.
mining.comCecilia JamasmieApr 30, 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.
