Views: 7 Author: Site Editor Publish Time: 2022-05-13 Origin: Site
This week, China is on the National Day holiday, and the global phosphate market activity has slowed down. Brazil MAP prices fell further to 1175-1210 US dollars / ton CFR. Despite more favorable crop fundamentals, farmers remain resistant to current high prices. Importers are still hesitant, but demand is expected to surge. US DAP barge prices slipped $40/st to $860-870/st FOB.
DAP sales emerged in India. Russian products are reportedly trading at $920/t cfr, while non-Russian products are trading at $1,030-1,090/t cfr.
DAP prices in the Chinese market were flat. Exports are still subject to legal inspection restrictions, and the export approval time is expected to increase from 33-45 days to 45-60 days.
Softer prices, firm outlook expected
MAP prices in Brazil will continue to remain weak. But importers still need to resume phosphate purchases by September. While buying is currently at a standstill, there is also a significant amount of demand to be met in the major DAP markets. South Asian CFR prices are expected to rise. The urea market is the key to the overall price trend.