Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Indonesia is now considering deep cuts to nickel mining quotas as it seeks to boost slumping prices of the metal.
Russian fertilizer producer Uralkali said on Monday it had signed a contract to supply 600,000 tons of potash to India before the end of this year.
“Uralkali confirms the signing of a contract with India at a price that objectively reflects current market conditions, with a supply volume of 600,000 tons of potassium chloride,” an Uralkali representative said.
The contract was signed earlier this year, according to source with direct knowledge of the matter.
The source said the price for April-September supplies was $279 per ton on a CFR or delivered basis and $285 per ton for October-December. Russia is a major supplier of fertilizers to India.
(By Anastasia Lyrchikova, Gleb Bryanski and Nidhi Verma; Editing by Mark Trevelyan)
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