Views: 22 Author: Site Editor Publish Time: 2023-07-25 Origin: Site
Due to the tight supply and increased import demand, the price of MAP in Brazil and the United States has increased this week significantly. The DAP market trend of east of Suez is mixed. The market price in Indian is weak, but the quotation from China is rising.
The CIF price of MAP in Brazil has increased to $465-475 per ton, an increase of $15 per ton compared to last week. The sales of MAP in Russia were sold throughout the entire range. In the United States in August, MAP barges price has been increased to $475-525 per ton FOB Nora, while the DAP is $445-460 per ton FOB. According to the latest signs, the price of DAP/MAP in Argentina has dropped to $475-490 per ton.
In the east of Suez, India DAP fell to 435 US dollars/ton cfr, reflecting that traders may sell in GSFC's 50000 ton tender on July 10. Negotiations between other importers and suppliers are ongoing. GSFC and RCF will end their procurement bidding on July 21st and 22nd. Bangladesh has postponed the bidding process again, with plans to postpone it until July 27th. Pakistan continues to keep quiet. The FOB price of DAP in China has increased from $420-425/ton last week to $420-431/ton, reflecting the high-end price that river producers sell to a trader, possibly to Nepal.
The market in the west of Suez is stable and firm, and the trend is expected to be weak in the future
In the short term, the market conditions in the eastern and western regions are operating differently, with the western market supported by demand, but the main DAP markets in the eastern region are facing pressure. Brazil's import time continues to shorten. The supply of MAP in the United States is tight, which will support the price of MAP in the west of Suez to rise further. India's DAP inventory continues to rise, while Morocco's DAP may be exported to India (the world's lowest CIF market), and the DAP market is not as strong as suppliers
