Views: 10 Author: Site Editor Publish Time: 2022-07-12 Origin: Site
This week's focus is on India and China
This week, India bought more, at least 440,000 tons of DAP, and some major importers signed contracts for phosphoric acid.
From July to August, two trading companies sold 240,000-250,000 tons of Chinese DAP to India in four batches at a price of about $950/ton CFR. Two batches of 60,000t OCP were traded at $960/t cfr in late July, and Ma'aden sold 50,000t DAP at $950/t cfr. Earlier this week, Russian DAP was trading at $920/t cfr.
At the same time, China's DAP export activities have ceased, the export policy has changed somewhat, and suppliers have been individually informed of export quotas, at least until the end of this year.
West of Suez, prices are more stable. Nola's DAP barge valuation was flat at $780-785/stFOB. Brazil MAP fell to $990-1020/t cfr, with the latest signs of a $10/t drop at the low end.
East market prices firm; West prices weak
The western and eastern markets continued to diverge, with demand from the Indian market supporting the strength of the eastern market. More purchases from India will come from rabbis, plus purchases from Pakistan later in the quarter. China expects tighter supplies to add support. Demand in Brazil will start to pick up next month.
