Intervention purchases or expanded antitrust investigation? in BHP Billiton's acquisition of the world's largest Potash Company Canada Potash Company (PotashCorp) out there for a month at the end, China will this acquisition what role to play in the concern.
15 September, the Commerce Department official stance has been closely following the acquisition, if the transaction officially declared, will be reviewed in accordance with the law.
While the potash market is home to fashion. This reporter has learned that the current domestic and international potash fertilizer prices are rising, domestic traders Tun goods to rise, China is about to start negotiations of potash imported annual disadvantaged.
Department of Commerce or restart the antitrust review
As the world's largest potash fertilizer and consumption in importing countries, China in the acquisition of moves much attention.
Department of Commerce press spokesman Yao Jian in 15, official statements, fertilizer bearing on the State of food and economic security, Department of Commerce has been concerned about this transaction, if the merger transaction officially declare the law antitrust review.
China is the world's potash one of the major importing countries. 2008 Chinese potash import dependence of up to 55%, 2009 due to domestic production and consumption decline, falling to 28% of imports, but to the degree of dependence on the international market is still relatively high. While Canada potash output accounted for 20% of global production, trade accounted for 30% of the world.
More importantly, BHP Billiton beginning in 2006, the global potash layout and acquires Canada's second largest potash producer in Athabasca, plan production capacity of 10 million tons, accounting for the global potash output of more than 20%. If this acquisition is successful, BHP Billiton will control the global potash fertilizer consumption of 50%.
Shanghai small law firm Beijing Branch partner Yun on runner-up told reporters that the Antimonopoly Act have extraterritorial jurisdiction. Canada potash Corporation is the leading supplier of potash, which BHP Billiton also has a large number of potash production capacity, so this acquisition may have on the country of the potash market competition to produce a certain degree of exclusion, restriction. At present, China has not yet had the anti-trust law extraterritorial jurisdiction case. However the industry believes that China through the antitrust review to block BHP Billiton takeover.
Canada Potash Company issued a statement saying that the company "China's sovereign investment fund or SOE company may have a keen interest in the acquisition proposal. "Market rumors of group has commissioned a HSBC Bank as its consultants deal with this acquisition, combined with China's sovereign investing funds to participate in the bid, but a sinochem will not comment on this.
"Sinochem can consider that the aluminum block BHP Billiton takeover force extension model, purchase to block BHP Billiton holding of equity. "Bo covers consulting, Managing Director of high 剑锋 believes that potash resources related to agriculture, their speech right next to the fall of the same with iron ore.
Markets open and friendly prices
The acquisition has raised another round of potash market prices surge.
"The current moratorium on trade are already watching, waiting for the ' 11 ' to offer after the holidays. "Shanghai agricultural materials of a manager told reporters now we all have very happy heart stopped selling, because the expected rise in the potash price would further.
Fortune is two potassium analyst Li Feng, told reporters that affected by the impact of acquisitions, our potash importers in the Middle, and so began to control imports of potash sales, service principal object to old customers, and large single-contract, at the border regions of Russia foreign pause offer, domestic traders stock allowance, start a small amount of shipments and to substantially increase the price, therefore appear "bin cargo to rise".
According to Fortune is two news shows that 57% of domestically produced potash fertilizer potassium chloride lowest quotation by early 1950 Yuan/ton (to stand) rose to now 2150 Yuan/ton, the average up 10.3%; border area import Russia red potassium port pricing, 2450 Yuan/ton up 8.9%; port Russia red potassium rose 11% in the control, the current port quote 2550 ~ 2600 Yuan/ton. Market price is rising more rapidly potassium sulfate, 50% by early powder potassium factory-2700 Yuan/ton, up to the current highest bid in Shandong area 3100 Yuan/ton, or as high as to 12.9%.
It is understood that last November the annual potash imports from China to start negotiations, at home and abroad the potash market rally may have on this year's negotiations have adverse effects.
Chinese imports of potassium and iron ore negotiations mechanism, similar to the minerals industry and export Chamber of commerce organizations, including the sinochem, Chinese agricultural materials group, CNOOC, 10 number of enterprises together. While the world potash supply was Canpotex company (United States from Canada PotashCorp, Mosaic, Agrium composition of Canada) as well as Russia, Israel and other potash Giants control. So our bargaining power of potash imported and is not strong.
China Minmetals chemicals import and export Chamber of Commerce Ministry of petrochemical industry stakeholders prudent, "this year's negotiations for potash imports is still very difficult to determine the time, there has been no new developments. "The source said at the same time, it is not convenient to many more sensitive, afraid of the impact of the actual work.
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