Increased market activity of DAP in eastern Suez

Importers from India and Pakistan are returning to the DAP market this week, continuing to increase their import lineup before the winter Rabi season. India purchased 150000 tons of DAP at a price of $550 per ton of cfr, all sourced from Morocco through trading companies, at a higher price than last week's $540 per ton of cfr. According to the bidding on August 10th, RCF also purchased MAP 10-50 and phosphate ore. The price difference between Pakistan and India is significant, with a CIF price ranging from $565 to $580 per ton. Currently, at least two Moroccan cargo ships and one Australian cargo ship have reached an agreement.

Chinese producers of DAP have raised their prices and raised the FOB price range this week from $530-550 per ton to $550-560 per ton. In August, Saudi Arabia's Ma'aden sold a 40000 ton DAP contract to the United States at a low price of $600 per ton CIF.

To the west of Suez, the price of DAP in Brazil remains stable at $530 per ton cfr. The US market is still at the high-end of global prices, with the FOB price of ammonium phosphate barges ranging from $530 to $545 per ton, while the FOB price of ammonium phosphate barges remains at $635 per ton. The price of ammonium phosphate provided by Mosaic is $550 per ton FOB Tampa

The market is temporarily stable

The sales prices of goods shipped in September and October remain stable. India, Pakistan, and Bangladesh must all increase their import lineup between October and November. But with the existing import volume, importers have already alleviated some pressure. In the coming months, the United States and Europe will continue to remain active. Starting from November, as demand weakens, affordability, natural gas prices, and macroeconomic environmental conditions will become key factors in price trends.