cheers sigmadelta,
had a brief look through that, interesting. so forgive my simplistic approach here but..
i take it this is a play on rising tensions in west africa disrupting the moroccan phosphate exports?
the way i see it barring a war there, an extra 3Mtpa of DAP from Maaden will flood the world market and we could see a return to lower phosphate prices (possibly sup-$100/t), leaving only a year and a half of undersupply and high prices whilst MAK is actually digging the stuff up.
i don't want to be negative i haven't really formed an opinion on MAK yet, but is that not a real risk?
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- note on rp prices q3 2008 fob morocco 450 500
cheers sigmadelta,had a brief look through that, interesting. so...
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