From what I understand DAP price was effected by the...

From what I understand DAP price was effected by the skyrocketing gas prices which shut down many DAP producers. Gas prices have come down by 70% since.

Since producers are now back it may have created more competition and hence put pressure on DAP price.

I believe that to produce DAP you need 1-2 parts phospate rock and 0.4 parts sulphur.

So the current ratio based on pink sheet - 345/510 seems fair to me.

Also phospate rock is not just used in DAP but as a standalone fertiliser and in LFP batteries with demand there increasing exponentially.