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SQM Surges as Rival Uralkali Seen Raising Prices

Soc. Quimica y Minera de Chile SA, Chile’s largest fertilizer producer, jumped the most in four months on speculation it will raise potash prices amid signs competitor OAO Uralkali plans increases for Brazil and China.

Shares of the company also known as SQM jumped 8 percent to 15,011 pesos at the close in Santiago, its biggest surge since Sept. 9. The stock reached its highest since Oct. 3. SQM was the best performer today on Chile’s benchmark IPSA index, which rose 1 percent.

“SQM is rising as its potash products generally command a premium to the potash Uralkali sells,” Leonor Skewes, an equity analyst at BICE Inversiones, said by phone from Santiago. “Investors are speculating that the prices will be confirmed.”

Berezniki, Russia-based Uralkali is seeking to raise prices in Brazil for granular potash available in March by $40 per ton to $350, according to research published yesterday by Fertecon. The company is also looking to increase the price of potash it sells to Chinese customers to $330 per ton, according to separate research from Argus FMB Potash earlier this week. The prices are not final, the reports said.

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