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MOSCOW, August 29. /TASS/. Uralkali Trading S.A. (a wholly-owned subsidiary of Uralkali) has concluded a contract for potash deliveries to China between August 2016 and January 2017.
Uralkali’s volumes under the contract will total 600,000 metric tonnes of KCl, not including optional deliveries.
The price of the contract is not revealed.
The contract has been signed with the consortium of the following companies: Sinochem, CNAMPGC and CNOOC.
In June, Uralkali said it was going to sign the contract with Chinese companies soon, but up until now the deal has not been concluded. Some analysts attributed this to the low prices offered by Uralkali.
China is the largest consumer of potash in the world, and its system of contracts for supplies has a significant influence on the structure of the global potash market.
In July, the Belarusian Potash Company reached an agreement with a consortium of Chinese buyers. By the end of the year it plans to supply 1.3 million tonnes of potassium chloride to China. The contract price for the supply is set at $219 per tonne. Also in July, the Israeli ICL signed a number of contracts for the supply of a total of 700,000 tonnes of potash to China during 2016.
Uralkali is one of the world’s leading potash producers and exporters. Its assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk of Russia’s Perm region. Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange respectively. Belarusian businessman Dmitry Lobyak owns 20% shares of the company 19.99% belongs to Uralchem, 38.4% is the share of treasury shares, VTB Capital owns 12.6% as repo while 8.96% is in free float.