Good thread guys - was actually of value to read ;)I was...

Good thread guys - was actually of value to read ;)

I was dissappointed by the last 1/4erly Report. I was expecting further news on DSO, Bulk samples, and potential updates on supply discussions.

I was also dissappointed by the following summary on DAP pricing relative to RP pricing. Given strength of DAP rises since Nov. I was expecting RP to be more than $120...

However HR and Saracen - I can see your logic as quoted from Fertiliser week, about the lag in RP pricing.
Lets hope this is the case.

"During the December 2009 Quarter, prices dropped again to about US$90 per tonne, but during January 2010 have begun to increase strongly, and presently seem to equate to about US$120 per tonne FOB for Wonarah grade. Whilst rock phosphate prices will need to increase further to provide a comfortable operating margin, the current trend is most
encouraging. Additional to that, Minemakers will enjoy a sea freight advantage to its target Asian and Oceania markets compared to North African producers.
A strong demand increase for fertilizers has also occurred with benchmark DAP(diammonium phosphate) prices having risen sharply recently (Figure 2). Historically, there
has been a response lag between fertilizer price increases and raw material input price increases which would suggest that the rock phosphate price can reasonably be expected to
increase further beyond its current level.