The holiday suppressed price fluctuations in some main markets this week. After the Spring Festival holiday, China FOB price of DAP rose to US$515-520/ton, and the market outlook is still expected to rise. In India, the CFR price of DAP from Saudi Arabia is medium/high-$440/ton. East African importe
US phosphates led the rise again in this week,which pushing phosphate prices up. The median FOB price of Nola DAP rose by US$85/short ton to US$550/short ton. The current CFR price in the U.S. Gulf is about $600/ton,this is the highest level since 2012.
There is no sign that the bull urea market will weakening, the strong demand and tight export supplies are supporting price increases in the entire market.