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To: LoneClone who wrote (66660)	8/31/2010 10:24:51 AM
From: LoneClone	Read Replies (1) \| Respond to of 194999

China Third-Quarter Potash Prices Probably Unchanged at $350, Goldman Says By Bloomberg News - Aug 30, 2010 8:54 PM PT bloomberg.com Sinofert Holdings Ltd., China’s largest fertilizer distributor, probably settled third-quarter potash prices with Canadian marketer Canpotex at about $350 a metric ton, unchanged from before, said Goldman Sachs Group Inc. The price includes cost and freight into China, analysts Jessie Pinglun Lai and Chris Shiu wrote in an Aug. 30 report. Sinofert may be contracting to buy around 200,000 tons to 250,000 tons in the third quarter, the analysts said. Prices for potash have started to bottom out and demand by China, the world’s biggest user of the crop nutrient, will rebound in the second half after bad weather conditions led farmers to idle fields, Citic Securities Co. said last week. Canpotex is jointly owned by Potash Corp. of Saskatchewan Inc., Mosaic Co and Agrium Inc. “Sinofert’s flat pricing with Canpotex continues to lock in a low cost base, setting up the potential for margin expansion given our positive outlook for potash prices,” the analysts said. Sinofert hasn’t settled with Belarusian Potash Co. on prices for imports yet, the Goldman analysts said. The Russian import prices may settle at between $375 a ton to $380 a ton for 2011, 7 percent higher than the 2010 contract, they said. China has at least 3 million tons to 4 million tons of inventories, “which should be sufficient for the fall planting season,” they added. --Feiwen Rong. Editors: Tan Hwee Ann, Keith Gosman. To contact the Bloomberg News staff on this story: Feiwen Rong in Beijing at frong2@bloomberg.net