BPC concludes deal with Chinese firms
JSC Belarusian Potash Co. has concluded a contract with Sinochem and CNAMPGC – the largest Chinese importers of mineral fertilizers. The deal is for $400/mt CFR, the price achieved earlier by Canpotex and Sinofert. BPC will supply a firm 700,000 mt, with another 300,000 mt optional. The time frame is Jan. 15-June 30, 2013. The Canpotex-Sinofert deal was for 1 million mt during the first half.
“A contract between the largest potash producers and Chinese importers is traditionally viewed in the industry as the major price benchmark having a significant impact on how active the global potash market is,” said BPC CEO Valery Ivanov. “Our short-term expectations are positive, the industry will gradually rebound and consumption will be growing.”