Uralkali Climbs Most in Week on Potash Price Increase
By Jason Corcoran -
2010-11-17T16:42:38Z
OAO Uralkali rose the most in more than a week after Russia’s second-biggest potash producer said it signed long-term contracts raising the price of potash to 5,700 rubles a metric ton ($182) in the first quarter of 2011.
The shares advanced 3.5 percent to 176.04 rubles at the 6:45 p.m. close in Moscow, its biggest gain since Nov. 9. The stock lost as much as 2 percent in earlier trading today.
Uralkali will supply OAO Phosagro with 342,000 tons of potash and ЕuroChem with 153,000 tons next year, the producer of the soil nutrient said today in a statement.
To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
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