India buys more Russian DAP

India is struggling to keep DAP CIF at $920/t and will load more Russian products in June-July. Russia sold two shipments to importers at that price this week. Chinese trading firms tried to raise their target price for DAP to $1,020-1,025/t cfr, but no deals were made. Producers kept their offers at $1,000/ton FOB China and above, and the overall Chinese export market was quiet. Trading in European markets stalled with low levels of DAP fca Ghent. Eurochem's Lifosa will restart production next month, with DAP production likely to resume in the second half of June. Egypt's NCIC has postponed its sales tender until June 1.

The U.S. DAP barge price was $825/st FOB Nola, down about $10/st from last week. Due to insufficient demand support, Brazil MAP prices fell slightly, and TSP and SSP prices are expected to decline. A trading company supplied Saudi Arabia DAP cargo to Argentina.

Market demand still exists

Brazil's phosphate demand was average until September. India's DAP inventory has increased to more than 2.8 million tons, but once the monsoon rains begin to accelerate domestic purchases, importers need to further enter the market to purchase, and Russian products alone are not enough to meet demand. Pakistan and Bangladesh still have large demand for DAP. At present, the negative factor affecting the phosphate fertilizer market is that the international nitrogen price is falling.