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Mosaic announced it will idle its Louisiana phosphate operations, cutting production by about 500,000 tonnes this year. The company said the cut aims to reduce high phosphate inventories and rebalance the market, and it expects a more balanced supply-demand outlook in 2020.
It also recently paused its Colonsay potash mine in Saskatchewan.
Supply growth from Saudi Arabia and Morocco had pushed phosphate prices lower, and this cut should tighten supply and support DAP/phosphate pricing for feed-grade phosphate buyers. The potash pause reflects abundant potash inventory, which keeps potash prices under pressure.
vinachem.com.vnNov 22, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
