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China May Sign Potash Supply Deal at $280-$300/t: Industry Group 2014-01-17 10:18:45.354 GMT
By Michelle Yun Jan. 17 (Bloomberg) -- Suppliers’ offer to sell at $330/t is unacceptable to China, Wei Chengguang, president of China Potassium Salts Industrial Association, says by phone. * Probable price for new supply deal is “personal opinion” * Southeast Asian buyers bought potash for as little as $270/t * China’s own production capacity increased last yr; country still has ~1.3mt of port inventory * NOTE: Sinochem’s Sinofert unit and Sinoagri Holding account for majority of China’s potash imports * Calls, e-mail to Sinofert Executive Director Harry Yang not answered; Sinoagri not available for comment
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--With assistance from Yuliya Fedorinova in Moscow.
To contact the reporter on this story: Michelle Yun in Hong Kong at +852-2977-4643 or myun11@bloomberg.net
To contact the editor responsible for this story: Jason Rogers at +65-6231-3673 or jrogers73@bloomberg.net