{"id":1185760,"date":"2020-05-21T11:50:11","date_gmt":"2020-05-21T16:50:11","guid":{"rendered":"https:\/\/www.mining.com\/?p=1024608"},"modified":"2020-05-21T11:50:11","modified_gmt":"2020-05-21T16:50:11","slug":"uralkali-inks-potash-supply-contract-with-india","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1185760","title":{"rendered":"Uralkali inks potash supply contract with India"},"content":{"rendered":"<p>Russian potash producer Uralkali <a href=\"https:\/\/www.uralkali.com\/press_center\/press_releases\/item43142\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">has inked a supply contract with India<\/a> for the rest of 2020 at $230 per tonne delivered to the buyer\u2019s port.<\/p>\n<div class='ad-slot' id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {    googletag.display('div-gpt-ad-1561499308230-0');    googletag.pubads().addEventListener('slotRenderEnded', function (event) {        if (event.isEmpty) {            var id = event.slot.getSlotElementId();            var x = document.getElementById(id);            if(x == null) return;            if (x.parentElement.classList.contains('ad-slot')) {                x.parentElement.style.display = 'none';            }\t\t\t\t        }    });});<\/script><\/div>\n<p>The price agreed with Indian Potash Limited (IPL) is slightly higher than the $220 per tonne&nbsp;<a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/belarus-scores-potash-contract-with-chinese-consortium\/\" >set by BPC and China last month<\/a>, which Uralkali <a href=\"https:\/\/www.mining.com\/uralkali-slams-potash-deal-between-belarus-and-china\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">deemed deceptive<\/a>.<\/p>\n<p>The Berezniki-based potash producer said on Thursday that the deal signed with IPL reflected the current market situation, &#8220;in contrast to the commercial terms of the Chinese contract, which were considered suboptimal by most companies in the industry.&#8221;<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Indian Potash Limited (IPL) will pay $230 per tonne or 10 cents more than the price set between BPC and China.<\/p>\n<\/blockquote>\n<\/figure>\n<p>The price that major users in India and China agree with a<br \/>\nproducer is then typically used in contracts with other suppliers.&nbsp;<\/p>\n<p>Uralkali didn\u2019t have any contracts with India or China<br \/>\nduring 2019 because of&nbsp;low prices and oversupply of stocks \u2013 the first<br \/>\ntime in at least decade.<\/p>\n<p>The news come only a day after the company signed $665<br \/>\nmillion-loan with 11 international banks, at a five year maturity.<\/p>\n<p>&#8220;In current challenging market conditions it is especially important for us that not only our constant partners with long-term trusting relationship demonstrate readiness for cooperation with Uralkali but also credit institutions that haven\u2019t participated in previous pre-export facilities,\u201d Uralkali chief financial officer, Anton Vishanenko, said in <a href=\"https:\/\/www.uralkali.com\/press_center\/press_releases\/item43139\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">a separate statement<\/a>.<\/p>\n<h2><strong>Stockpiles at record highs<\/strong><\/h2>\n<p>Potash stockpiles are at a record high and exporters will<br \/>\nlikely want to clear them as soon as possible, CRU senior potash analyst,<br \/>\nHumphrey Knight, told MINING.COM.<\/p>\n<p>This means it will be months before China requires<br \/>\nsignificant fresh supply and, as a result, spot prices will respond accordingly<br \/>\nin late 2020, the expert noted.&nbsp;&nbsp;<\/p>\n<p>Beijing has imported 3.2 million tonnes of potassium<br \/>\nchloride (MOP) from Russia since October 2018 and 2.4 million tonnes from<br \/>\nBelarus in the same period, according to&nbsp;<a href=\"https:\/\/www.globaltradetracker.com\/start\/\"  rel=\"noreferrer noopener\">data from the<br \/>\nGlobal Trade Tracker (GTT)<\/a>.<\/p>\n<p>Total global sales to China in the period hit 13.2 million<br \/>\ntonnes, with Canada leading the list with 5.2 million tonnes.<\/p>\n<p>Russia\u2019s export to China in the first quarter&nbsp;of this<br \/>\nyear was about 690,000 tonnes, compared to about 290,000 tonnes of fertilizer<br \/>\nthe Asian giant bought from Belarus, and 1million tonnes from Canada.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Potash Limited (IPL) will pay $230 per tonne or 10 cents more than the price set between BPC and China.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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