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DAP prices is weak in the east of Suez

Views: 0     Author: Site Editor     Publish Time: 2022-08-04      Origin: Site

DAP prices fell to $920-940/t cfr this week in India. Buyers expect prices will continue to decrease before the next round of buying. The price decrasing in India has pushed down Chinese FOB prices, but quota-induced tightening has kept high-end offers to the Southeast Asian market at around $940/t fob. Pakistani offers have fallen to $950-960/t CFR and lower, but buying interest is limited at present.

In the west of Suez, MAP prices continued to decline and activity was limited. Brazilian prices have theoretically fallen to $930-950/t cfr, but bids are getting lower and no new sales have been reported. Argentina is following the Brazilian trend. Mexican importers may have purchased U.S. MAP based on last week's enquiries, but the quantity is lower than requested originally.

Prices expected to stabilize after falling

Prices in east and west Suez have already started to decrease. But there is still plenty of DAP demand from the Indian subcontinent in the coming months for rabi, while exports from China tighten. Availability in Morocco and Russia will be the key to determining the direction of prices. Brazilian end users will start purchasing in the second half of August.


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