Views: 10 Author: Site Editor Publish Time: 2022-09-20 Origin: Site
DAP levels east of Suez continued to decline, with the market traded in a muted form this week following a surge in trading in recent weeks. Indian DAP prices fell to $770-775/t cfr, with prices facing further pressure, with unconfirmed offers of $750-760/t cfr. Chinese DAP prices fell to $745-770/ton fob from last week's $755-800/ton fob. Producers reported volumes in Vietnam at $790/t fob, but that could have happened last week. Australia's import season has begun, with at least four producers confirming shipments from China, Saudi Arabia and the United States next month.
The market west of Suez was more stable, but MAP fell to $730-750/t cfr Brazil. DAP barge prices in the US softened slightly.
DAP prices will continue to decline
DAP prices east of Suez will fall further. The U.S. and Europe could provide some respite for DAP producers, but demand is not strong. Australia will continue to buy MAP. Rising nitrogen prices are likely to add support and pressure to prices, but limited demand is currently weighing on the phosphate market.