My understanding is they are very much focussed on offtakes this quater.
The latest morocon is a bid 150, ask 200 i think.
And think that when you control 47% of supply, someone will ultimately have to pay up or go without.
There is a valid argument, that if morocco just dig their heels in, and say 200, thats it. That when all the other supply is at full capacity, someone needing, will knock on their door.
So, at a margin bw 50-100 us/t.
I can understand phils and nevs nervousness, but you have to think also that maybe this is the low as well.
The larger players in the sector gloablly remain bullish, so ought we?
cheers
AEV Price at posting:
43.4¢ Sentiment: Hold Disclosure: Held
