Saudi miner Maaden reported third-quarter revenue up 11% year on year to $3.0 billion, while EBITDA fell 24% to $0.9 billion. Record sulfur costs and the absence of ammonia export sales weighed on its phosphate business, which nonetheless recovered to 1.6 million tonnes of granulated product as sulfur shortages eased.
Record sulfur costs at a major Saudi phosphate producer signal tight input economics for phosphate fertilizer supply, which can support phosphate and DAP prices and raise costs for feed phosphate producers.
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