ICL signs China K deal – Alert
Israel Chemicals Ltd. has signed framework agreements with its Chinese customers to supply 3.4 million mt of potash over the next three years. The agreements include options. The sale price will be linked to prevailing market prices in China.
ICL said that the latest agreements represent a 3 percent increase over the previous three year framework agreements. According to the breakdown ICL will deliver 1.1 million mt in 2016; 1.14 million mt in 2017; and 1.16 million mt in 2018. The company noted that the previous framework agreement of 3.3 million mt was supplied in full.
"The quantities and multi-year terms of the agreements reflect our strong and stable relationships in the Chinese market, as well as our successful efforts to maintain-and even increase-our position in the markets," said Nissim Adar, president of ICL Fertilizers.