uralkali increase prices in brazil to $530

Here we go, potash price keeps going up.

China's Sinochem and CNAMPGC urgently signed a contract with BPC, (the joint venture trader for Uralkali and Belaruskali) at beginning of new year, for potash at $400pt which will run from Jan 13 to June 30, valid only for 6 months.

Then Potash marketing company Canpotex Ltd (marketing arm of Potash Corp, Mosaic and Agrium) said on 20th of Ja.2011 that it signed a deal with China's Sinofert Holdings Ltd to supply 600,000 tons of potash during the first six months of 2011. It did not specify the price, it suggested it to be similar to those recently established for new seaborne imports of potash to China. And again, it is only valid for six months.

I'd start to buy back the shares asap before it's too late if I were a trader who sold my shares for trading just recently.

Because, this is not a joke, potash price is seriously going up..! From $350pt to $530pt, just in a few months. Think about the year end!

Cheers.

Uralkali.., aims to increase prices in Brazil to as high as $530 a metric ton

Source: Bloomberg - Feb 26, 2011 2:26 AM GMT+1000
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OAO Uralkali, Russia's second- biggest potash producer, rose the most in almost seven months in Moscow trading on a report it plans to boost prices in Brazil.

Uralkali climbed 9.4 percent, the steepest gain since Aug. 2. Belarusian Potash Co., its trading company, aims to increase prices in Brazil to as high as $530 a metric ton, FMB Group's weekly potash report said, citing a notice to clients. On Nov. 8, BPC said it would charge buyers in Brazil $450 a ton.

Uralkali's press service and BPC spokesman Filipp Gritskov declined to comment when contacted by Bloomberg News today.

"This is a pretty high price taking into account that prices for China were as high as $440 per ton and negotiations with India are still ahead," said Alexey Bachurin, a trader at Renaissance Capital in Moscow. "The expected price for India was $470 per ton," Bachurin said.

Uralkali climbed 20.03 rubles to 232.82 rubles by the 6:45 p.m. close of Moscow trading. OAO Silvinit, Russia's biggest potash producer, rose 8 percent to 29,471.87 rubles.

"The market had expected this" potash "price level to be reached only by year-end," Marina Alexeenkova, an analyst at OAO Gazprombank, said by phone today from Moscow.