PhosAgro cancels Capital Markets Days
Russian phosphate maker PhosAgro said today it is canceling its Capital Markets Days, originally planned for March 17-18, until the second half, tentatively in September.
PhosAgro apologized to investors saying the postponement would make it possible to meet with investors when the market is less driven by external factors, and the participants will be able to focus on discussion of PhosAgro’s new strategy for growth.
The current Russia-Ukraine conflict is taking center stage, leaving less room for Russian companies to tout their stocks.
Speculation is also rising that any U.S. and Western sanctions against Russia could conceivably impact the potash markets and Russian producer Uralkali. Likewise, sanctions could impact Russian nitrogen and phosphate exports.
While sources say Ukrainian nitrogen production and shipments are ongoing, the industry is closely watching the situation.