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Norge Mining reported a large high-grade phosphate rock deposit in Norway, estimated at a minimum of 70 billion tonnes. The company later revised its claimed supply horizon from 100 years to at least 50 years.
A major new deposit in Europe could eventually ease reliance on Russian and Moroccan phosphate, but it is an exploration-stage find with no near-term supply impact, so prices are unlikely to move much on it.
euractiv.comFrédéric SimonJun 29, 2023Not enough comparable past events yet for a historical read.
After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% over 20.
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.
