International Ammonium Phosphate Prices Climb

   Despite limited trading, market sentiment is positive across all products. OCP made waves by selling 55,000 tonnes of DAP at 655−660/tonne CFR for April loading to India,with net prices returning to 655−660/tonne CFR for April loading to India,with net prices returning to 625-635/tonne FOB. The CFR price is significantly higher than India's previous levels. It is reported that OCP may have sold the cargo to a trader. OCP also sold DAP at 620−680/tonne FOB to Europe,where trading has slowed,and euro prices have softened due to aweaker USdollar.India′sHindalcoisset to finalizea tender for the purchase of 40,000 tonnes of DAP on March14.Tightglobal supply means fewer origino ptions,and offers are likely to remain firm.China remains absent from the global market,while domestic purchasing is in full swing.Chinese producers have managed to keep domestic DAP prices stable,but rising sulfur costs have pushed up MAP prices.Suppliers view Brazil′s MAP pricesas stable,and some have chosen to suspend offers after Russian MAP was sold at 620−680/tonne FOB to Europe,where trading has slowed,and euro prices have softened due to aweaker US dollar.India′sHindalcoisset to finalizea tender for the purchase of 40,000 tonnes of DAP on March14.Tight global supply means fewer origin options,and offers are likely to remain firm.China remains absent from the global market,while domestic purchasing is in full swing.Chinese producers have managed to keep domestic DAP prices stable,but rising sulfur costs have pushed up MAP prices.Suppliers view Brazil′s MAP prices as stable,and some have chosen to suspend offers after Russian MAP was sold at 640/tonne CFR. However, buyers remain more focused on SSP, prompting Egypt's NCIC to sell 20,000 tonnes of 19% SSP at 213/tonneFOBforAprilshipment.Thispriceisatleast213/tonneFOBforAprilshipment.Thispriceisatleast10/tonne higher than NCIC's previous tender price.

             Prices Remain Firm
             Trading activity is expected to stay subdued as many buyers await the resumption of exports from China. However, in the meantime, the tight global supply will enable suppliers with available product to raise prices for those in need of purchase.