Potash prices to rebound in 2014 after reaching bottom - Uralkali

Thu Oct 3, 2013 3:31am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

MOSCOW Oct 3 (Reuters) - Russia's Uralkali, the world's largest potash miner by output, expects global potash prices to rebound in 2014 after reaching a bottom level in terms of supply contracts with China, the top global consumer, Uralkali's head of sales told Reuters.

Uralkali rocked the global potash industry when it quit a trading alliance with Belarus in July. Since then global potash prices have already decreased and may fall further this year, Uralkali's Oleg Petrov said.

"The (global) price will not drop to $300, but there might be a correction from current levels this year because Belaruskali and other producers' attempts to place volumes could put pressure on the prices," Petrov said.

"All corrections will occur within 2013, reaching a bottom in early 2014 with the contract in China, after which there will be a definite rebound."