Rumored Uralkali potash price increase pushes sector equities higher

|About: Uralkali Jsc 144 A (URALL)|By:, SA News Editor

Uralkali (URALL +9.7%) shares jump the most in four months on speculation that it may raise its prices for Brazil and China.

Uralkali is signaling that Brazilian buyers will have to pay $350-$360/ton on a cost-and-freight basis for granular potash for March volumes compared to the current $320/ton, J.P. Morgan analysts say.

Rumors also indicate Uralkali will sign its contract with China for the first half of the season soon at a possible price of $300/ton, which could set a price floor, according to Renaissance Capital.

Following up sharp gains yesterday, POT +3.4%, MOS +3.2%, AGU +1.4%, ISCHY +2.7%, SQM +6.8%, KPLUY +3.3%, IPI +3% today.