Indian phosphate fertilizer prices continue to decline

In this week's phosphate market, India once again became the focus of market trading, with the latest CFR quotation level decreasing.

Importer NFL concluded the bidding for 50000 tons of DAP on April 10th, with a trading company offering a minimum price of $560 per ton of cfr. Hindalco and Indorama also closed their inquiries this week, quoting around $560 per ton for cost and shipping. Earlier this week, the trading company sold 35000 tons of Jordanian DAP for shipment in late April at a price of $570-571 per ton. Approximately 30000 tons of Australian DAP will be shipped to Pakistani ports, possibly by the end of this month, but most of the products are unlikely to remain in Pakistan. DAP China's offshore price has dropped to $550- $560 per ton.

Egypt's NCIC ended its product sales bidding on April 12th, but the price has not yet been announced. A trading company may currently be shipping goods of Tunisian MAP to Latin America.

To the west of the Suez Canal, US barge prices are in opposition to global trends, with DAP and MAP prices both rising significantly. Mosaic has raised the FOB export price in Tampa to $620 per ton. Brazil's demand remains weak, ranging from $580 to $600 per ton of cfr.

The market is still weak

The prices of barges in the United States have significantly increased, mainly due to the rapid increase in demand after sluggish imports. But the rise will be brief, and prices will tend to decline in May. India's prices will continue to decline as importers continue to hold down prices, while demand from other regions is minimal to support the global market.