No PotashCorp talks planned; inventories shrink

16 September 2008 23:11  [Source: ICIS news]

HOUSTON (ICIS news)--Talks between PotashCorp and striking workers at three of its plants were at a standstill, a company spokesperson said on Tuesday, a day after a news media report claimed potash inventories were at their lowest levels in at least 19 years.

 

Stockpiles of potash fertilizer held at the end of August by North American companies were at 556,000 tonnes, said Estelle Grasset, director of communications for The Fertilizer Institute in Washington, DC.

 

Production fell 17% from July to August, to 810,000 tonnes, according to Bloomberg News, largely because of a strike at three Canadian mines owned by Potash Corporation of Saskatchewan (PotashCorp).

 

Workers have been striking since 7 August at the company’s 2m tonne/year plant in Allan, 800,000 tonne/year plant in Cory and 300,000 tonne/year plant in Patience Lake.

 

PotashCorp spokesperson Tom Pasztor said no new meetings were scheduled between company officials and the United Steelworkers union, which represents the striking workers.

 

Potash fertilizer inventories are at their lowest level since at least July 1989, when TFI began issuing the data, according to Bloomberg.

 

The stockpiles are 33% lower than last year’s level, according to Bloomberg.

 

Management employees have been pooled from the three sites to operate the Allan plant at half capacity, but Cory remains off line and Patience Lake is on a scheduled shut down until 4 October.

 

Multiple retailers have said PotashCorp has declared force majeure on some of its shipments of granular and soluble white potash products, though the company has repeatedly declined to comment.

 

For more on PotashCorp’s Cory plant, visit ICIS plants and projects

To discuss issues facing the chemical industry go to ICIS connect 

By: David Rosen
713-525-2653

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly