Views: 27 Author: Site Editor Publish Time: 2022-06-29 Origin: Site
The bearish sentiment in the market increased, dragged down by the weak raw material market; meanwhile, demand in Southeast Asia showed signs of slowing down. High-end prices for 15-15-15/16-16-16 fell by $50/t to $780/t cfr. Import prices are unlikely to rise further despite strong demand from China and India. The current highest retail prices and subsidy levels in India leave little room for import prices to rise, while the Chinese market is upside down, and the buying and selling price concepts are far from the same. In the west, demand in Brazil is recovering and market enquiries are increasing. In Africa, the focus remains on tendering. It is reported that Mavila closed a tender this week seeking 110,000 tons of fertilizers including NPKs, and received six invitations to participate.
1. Due to the tight supply of MOP, the focus of producers has shifted to NP/NPs; 2. Thailand’s fertilizer suppliers are facing stricter price controls;
30-60 Day Outlook
The seasonal demand in Europe is off-season and the seasonal demand in Southeast Asia is slowing down, which will promote the price of NP/NPK to weaken slightly. Another downward adjustment of raw materials will further increase the price pressure of compound fertilizer. While Brazilian demand is strong, Russian exports are expected to return in the coming weeks, which will be key.