BHP see potash as their next big play, not phosphate or urea or DAP.
BHP have identified a market for and lack of supply for potash.
Morocco have 70% of the world's phosphate and they have draglines and overland conveyors to port.
CXM were close to being in the right place at the right time while the market was in turmoil due to China and Russia pulling supply. I'm not sure what has happened towards the end of 2023 but the market seems in oversupply if we can trust the world bank pink sheet.
Red sea disruption should increase the price due to scarcity so maybe Morocco is discounting to secure sales. But that still means prices have dropped.
BHP see potash as their next big play, not phosphate or urea or...
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Last
5.3¢ |
Change
-0.002(2.75%) |
Mkt cap ! $45.42M | |||
| Open | High | Low | Value | Volume |
| 5.4¢ | 5.4¢ | 5.1¢ | $13.15K | 250.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200000 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 192855 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
5.3¢ |
Change
-0.002 ( 1.85 %) |
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| Open | High | Low | Volume | ||
| 5.1¢ | 5.3¢ | 5.1¢ | 74687 | ||
| Last updated 15.51pm 03/05/2024 ? | |||||
| CXM (ASX) Chart |