Views: 15 Author: Site Editor Publish Time: 2022-11-03 Origin: Site
India purchase and continue to purchase DAP
The Indian importer market continued to be active, buying spot tonnage at a higher price.
OCP sold 220000 tons of DAP to India, raising the price of loading from October to November to 740-750 dollars/ton. Pakistan did not buy this week, but it is reported that China's sales to the Philippines kept the fob price of DAP in China at $700-710 per ton, but the supply of manufacturers and the interest of buyers are still limited. In Saudi Arabia, Ma'aden's 3 million ton/year DAP/MAPMPC plant is still in a state of shutdown. The Egyptian manufacturer NCIC issued a tender to sell DAP, TSP, phosphoric acid and SSP, with the deadline of November 2 and shipment at the end of next month. BCIC in Bangladesh completed a bid for phosphoric acid procurement, which was higher than the last inquiry earlier this month. MAP prices in the west of Suez fell to US $600-640 per ton, and another batch of goods were re exported this week.
But some immediate demand for small batches is soaring. The price of MAP and DAP barges at Nora Port fell to USD 695-715/st fob.
Phosphate fertilizer in the east is stable and expected to remain weak
As the final demand for immediate goods is met, India's DAP price will stabilize around next week. Due to the reduction of Saudi Arabia's production, Morocco seems to be the only place where the demand can be met on a large scale. But once the Rabi seasonal demand stops buying, the prices in eastern and western Suez will be under pressure until the end of this year.
