PotashCorp (POT) Higher On Reports Russia Co Raised Prices
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Following weeks of selling pressure, shares of Potash Corp. of Saskatchewan, Inc. (NYSE: POT) are moving higher today on reports from Bloomberg OAO Uralkali, Russia's second-largest potash producer, said it raised prices for domestic chemical producers OAO EuroChem and PhosAgro by 20% as demand for complex fertilizers improves.
Shares of Potash Corp are up 6% in mid-day trading.
The news is also boosting others in the sector Mosaic Co. (NYSE: MOS) is up 4% Terra Industries (NYSE: TRA) is up 4%, Intrepid Potash, Inc. (NYSE: IPI) is flat, Agrium (NYSE: AGU) is up 2% and CF Industries (NYSE: CF) is up 1%.
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