Views: 6 Author: Site Editor Publish Time: 2024-08-20 Origin: Site
China and India are once again drifting apart
The activities in the eastern region have kept DAP prices firm.
Indian importers accepted a DAP price increase of $30 per ton and purchased up to 130000 tons of DAP at a price of around $620 per ton. The government has approved special additional subsidies for DAP, but this still only brings the breakeven price to $545 per ton CFR.
Chinese exporters have once again withdrawn from India, but have insisted on DAP pricing in other markets, setting the high end of this week's trading range at $605-610 per ton, an increase of $5 per ton.
The Bangladeshi government has issued another private sector tender to purchase DAP and TSP, with shipments scheduled for September and a deadline of August 25th.
In the West, prices in Europe and the United States are generally stable, with little trading activity. The MAP price in Brazil is slightly stable, while the MAP in Russia is sold to North American ports at a price of $640/ton/cfr, but the MAP price in other regions remains at $635/ton/cfr.
Stable and firm in the third quarter, weak in the fourth quarter
The demand in the east will keep DAP prices firm, while tight supply will keep MAP prices stable. But the decline in demand will bring some pressure to prices throughout the fourth quarter.
