Intrepid Potash Inc., Denver, reported that effective Nov. 30, 2020, Zachry Adams was appointed to lead the Sales and Marketing team. He will report to Matt Preston, Vice President of Finance.
On Nov. 16, Mark A. McDonald, Vice President of Sales and Marketing, notified Intrepid of his decision to pursue another opportunity out of state, effective Nov. 30, 2020.
The OCP Group responded to the decision released today by the U.S. Department of Commerce to impose preliminary countervailing duties of 23.46 percent on U.S. imports of Moroccan phosphate fertilizers. OCP said the petition filed by The Mosaic Co. was “misguided.”
“We cooperated fully in this first phase and will continue to make our case in the second phase of the process, due to be completed by March 2021,” said OCP. “We remain confident that by the end of this process it will be clear there are no grounds for imposing countervailing duties on Moroccan fertilizer imports.”
The Mosaic Co. shares jumped as much as 11.4 percent to the highest intraday since September 2019 after the Commerce Department announced its affirmative preliminary determinations in the countervailing duty (CVD) investigations of imports of phosphate fertilizers from Morocco and Russia, according to Bloomberg. In the meantime, sources in the NOLA market, said players began pulling offers off the table in order to assess the news.
Mosaic said beginning in a matter of days, the rates from Commerce’s preliminary determinations will be used to impose preliminary cash deposits on Moroccan and Russian phosphate fertilizer imports into the United States.
Preliminary subsidy rates were 23.46 percent of OCP SA/Morocco; and 20.94-72.5 percent for Russian producers, including 72.5 percent for EuroChem’s Industrial Group Phosphorite LLC, 20.94 percent for PhosAgro’s Joint Stock Company Apatit and 32.92 percent for all other Russian producers/exporters.
The U.S. Department of Commerce on Nov. 24 announced its affirmative preliminary determinations in the countervailing duty (CVD) investigations of imports of phosphate fertilizers from Morocco and Russia. (The first version of this alert identified the agency as the U.S. International Trade Commission. The ITC made its preliminary determination on Aug. 10.)
Preliminary subsidy rates were 23.46 percent of OCP SA/Morocco; and 20.94-72.5 percent for Russian producers, including 72.5 percent for Industrial Group Phosphorite LLC, 20.94 percent for Joint Stock Company Apatit and 32.92 percent for all other Russian producers/exporters.
