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Nutrien plans inventory shutdowns of up to eight weeks at its Allan, Lanigan and Vanscoy potash mines in Canada during Q4 2019. Full shutdowns could cut output by about 700,000 metric tons.
The company remains positive on 2020 potash demand.
Idling about 700,000 tonnes of potash supply in Q4 tightens near-term availability and can support prices. The shutdowns respond to a short-term inventory glut rather than a demand collapse.
e-mj.comMisty ValverdeOct 16, 2019Not 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.
