- 11.02.2020

Bcs bank jsc

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Bcs bank jsc

BPC director general Elena Kudryavets said the price reflectedthe current situation in the potash market, where weak corn and wheat prices havesubdued demand for crop additives this year. Deal slightly higherthan forecast … but good bcs bank jsc for producers?

Bcs bank jsc

The contract price paid by the Chinese, the biggest potash consumingnation, is used as a price benchmark bcs bank jsc buyers in other regions. Global potashproducers traditionally begin Chinese negotiations in January.

Bcs bank jsc

But the length of time without a deal this year led some punditsto fear the contract system would break bcs bank jsc in favor of a spot-based mechanism,as happened bcs bank jsc the iron ore market last decade.

Bcs bank jsc the upside for producers from the deal was it should promptbuyers to return bcs bank jsc bcs bank jsc market, using the China contract as bcs bank jsc floor. He said potashsales volumes in the rest of the year should increase as a result.

PJSC Uralkali,the largest potash miner and arch-rival of BPC, said in April it expected worldwidepotash demand to reach58 million to 60 million tonnes this year, down slightly from 61 million tonnesconsumed last bcs bank jsc.

Decade-low contractprice reflects producers' weak positions, market fragmentation Commit wcx 2020 that, Yuminov said the price agreed was the lowest in12 years, reflecting producers' present weak position against the buyers.

Bcs bank jsc

He said although BPC's agreement beat market expectations, the deal wasstill "bad for producers. Yuminov agreed BPC was more restricted in its production duethe enterprise's importance to the state budget.

Bcs bank jsc

Regardless, the state potash miner has reduced production recently,he said, reflecting similar output cuts bcs bank jsc producers elsewhere. Other potash producers have also been winding back productionamid the low prices.

Bcs bank jsc

Mosaic Co. At Uralkali, production has been falling for bcs bank jsc past 18 months, as the miner deals with lowermarket prices and the flooding bcs bank jsc one of its shafts.

Bcs bank jsc

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