Views: 19 Author: Site Editor Publish Time: 2022-08-30 Origin: Site
Global phosphate trade was concentrated in India this week, where nearly 400,000 tons of DAP was traded. Prices in the U.S. and Russia fell sharply to $850/t cfr from $880/t cfr at the start of the week. But there are also cargoes from Saudi Arabia and Morocco, totaling around 250,000 t DAP at $890/t cfr.
Trading in other markets was light. China has some export transactions, and Pakistani importers remain on the sidelines.
Brazilian MAP prices also continued their downward trend, falling to $800-820/t cfr from $850-870/t cfr late last week.
International markets still weak, but European energy crisis may bring stability
Major markets such as Brazil and India showed no signs of stabilizing and prices continued to decline. The European energy crisis and the latest in a string of plant closures could bring some buyers back into the market and affect ammonia prices. Market participants are also waiting for U.S. demand to pick up, but until now, ample distributor inventories have kept Nola's new barge traded low.
