Views:1 Author:Site Editor Publish Time: 2019-01-30 Origin:Site
Indian buyers are buying DAP from China and Jordan this week, with similar CIF price.
Chinese company Yihua sold 50,000 tons of DAP to Kisan International, a subsidiary of India's Iffco, at a CIF price of US$406-407/tonne. In addition, Sun International sold 30,000 tons of DAP to the GSFC in Jordan at a CIF price of $407/ton and provided a 30-day credit period.
Elsewhere in the Asia Pacific region, Indonesian Pupuk will complete the long-term procurement tender for 175,000 tons of DAP from March to August on January 25. South Korea has a small amount of DAP demand, and the price is FOB China US$395/ton.
To the west of the Suez Canal, Eurochem reported that it sold about 10,000 tons of 63% MAP directly to buyers at a price of $434/ton CIF. There is no further sales in Argentina, but the target price of the company is 5-7 US dollars / ton higher than Brazil.
The east of Suez market may remain weak in the first quarter, as Chinese companies will start to turn a profit in the face of weak domestic demand and positive bids from India. To the west of the Suez Canal, as farmers receive a batch of fertilizer application after soybean harvest, the purchase of MAP may increase at the end of this month.