International DAP/MAP supply is tight and the market is strong

Due to the short supply and strong demand,the prices of east of Suez is still firm this week. But compared with last week, market activity has decreased.

This week, China's DAP quotation reached US$320/ton FOB, but the deal price still at US$318-320/ton FOB. The main trading countries were Indian importers and the Philippines. India purchases Chinese DAP at a price of US$329-331/ton CFR, and the price of Russian DAP is also within this range. Pakistan did not reach a new deal this week.

In west of Suez, Brazilian MAP prices rose slightly to US$340-345/ton CFR, but there was no actual transaction. The US ITC will make a preliminary ruling next week on Mosaic’s application for tariff increases on imports from Russia and Morocco.

Due to the lack of spot sales in August in the world and tight supply in September, the market will remain strong  in the coming weeks.