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Chinese battery makers Gotion High Tech, Sichuan Yahua and Guangzhou Tinci are investing in Morocco to secure phosphate for lithium iron phosphate battery cathodes. Morocco holds about 70% of known global rock phosphate reserves.
The article notes that concerns over phosphate access are driving these investments.
Battery-driven demand for phosphate competes with fertilizer uses and could keep phosphate rock prices firm, adding cost pressure for fertilizer buyers.
source.benchmarkminerals.comDidi BostockAug 4, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
