Views: 21 Author: Site Editor Publish Time: 2022-05-25 Origin: Site
Bangladesh issued a long-awaited procurement tender for 700,000 tonnes of DAP and 250,000 tonnes of TSP this week. Despite the high demand, global market sentiment remains weak, with prices in mainstream international markets falling and trade volumes remaining sparse.
Indian buyers bought DAP with the CFR price at $920/t from Russian, with prices steady at $920/t cfr. But DAP from Saudi Arabia was also shipped to Pakistan at $1,030/t cfr.
Jordan's JPMC sold DAP cargoes to the East of Suez market at $1,005/t fob.
In Brazil, prices continued to decline due to insufficient demand, from quotation of $1,150-1,200/ton cfr last week to $1,100-1,150/ton cfr. U.S. DAP barge prices fell to $830-840/st FOB Nola this week, with an average drop of $7.50/t.
Market demand still exists
The bearish sentiment in the ammonium phosphate international market still exists, the main DAP and MAP markets are quiet, and the sellers' mentality is unstable. But pre-season buying in Brazil is coming, and the South Asian market will soon return, adding to the lineup for the fourth quarter.