Brazil's MAP continues to decline, and the price of DAP rises in Asia

The prices of DAP in the east and MAP in the west of Suez continued to converge this week, narrowing the market gap. Due to the latest sales of Ma'aden in Saudi Arabia, the price of DAP in Pakistan has risen by US$5/ton to US$660/ton CFR, while the median export price from China has risen by US$8/ton to US$620-625. /Ton FOB. Several trading companies may have ordered DAP from China for shipment to Pakistan, but no further sales to Pakistan have been heard this week. West of Suez, demand is relatively sluggish, especially in Brazil, which has caused the price of MAP to fall further to US$730-745/ton CFR. It is reported that a company did sell 22,000 tons of MAP at a price of US$750/ton CFR.

    Prices in Latin America will continue to decline in the coming weeks. As the rabi season approaches from October to March, both India and Pakistan need to enter the market to further purchase DAP to avoid shortages. The supply of DAP in China is tight.