Views: 25 Author: Site Editor Publish Time: 2023-10-17 Origin: Site
Market activity is mainly concentrated in India and Brazil, with prices remaining stable.
Indian importers purchased another 190000 tons of DAP at price CFR $590 per ton. India's demand for goods shipped in the first half of November still exists.
The offshore price of DAP in China is basically stable at $575- $580 per ton, but manufacturers are trying to increase the price in the Southeast Asian market to over $590 per ton.
The price of Nordic DAP remains stable at over 600 euros per ton. In the west of Suez, due to importers purchasing more Russian MAP at a price of $550 per ton of CFR, the price of Brazilian MAP remained unchanged. In the United States, barge prices for November shipments are under pressure, with MAP ranging from $600 to $647/st and DAP ranging from $530 to $545/st FOB, but spot delivery prices are relatively high.
A brief calm after stabilization
Due to the potential demand in South Asia, prices have been well supported, especially in the eastern region. As major markets enter the off-season, it is currently unclear which market demand may improve after December. But it is expected that after entering the New Year, inventory will be at a low level, and demand from both East and West may significantly rebound in the first quarter.
