Views:19 Author:Site Editor Publish Time: 2021-08-31 Origin:Site
South Asian market picks up
In South Asia, especially India and Pakistan, it became the focus this week because of some DAP sales activities in both markets.
There are three DAP sales in Pakistan, and importers have ordered 120,000 tons of DAP and a small amount of MAP from China. The price of DAP rose from last week's high of US$660/ton CFR to US$675-680/ton CFR. Sales this week pushed up China's export prices to US$625-633/ton FOB, compared to US$620-625/ton FOB last week.
In India, the Saudi Arabian producer Ma'aden sold 60,000 tons of DAP at a price of $653/ton CFR, which was $5/ton higher than the last Russian DAP transaction in mid-August. Moroccan producer OCP is in talks with Indian buyers on the sale of DAP, but there is no conclusion.
DAP market develops upwards, MAP continues to weaken
As there is still a shortage of DAP in the rabi season in India, the market activity of DAP may increase in the next few weeks. The price of MAP in Brazil may continue to fall because the soybean application season is about to begin and importers are not motivated.