Views: 15 Author: Site Editor Publish Time: 2024-03-13 Origin: Site
The price difference between China and India is getting bigger and bigger
Chinese DAP manufacturers are seizing the opportunity to sell small quantities of products to Southeast Asia at an offshore price of around $600 per ton.
The landed price of DAP in India has begun to decline, with an offshore price of $580/ton in Jordan, which is nearly $10/ton lower than the current price of $595/ton for Saudi products.
There are already several batches of DAP goods on the road in Thailand, and domestic demand may soon be met.
Once China's supply resumes in May, offshore prices will have to decline in order to sell to India.
To the west of Suez, due to suppliers raising their prices, the MAP price in Brazil remained stable at $570/ton/cfr, but trading activity was low. Egypt's NCIC sells superphosphate at an offshore price of $170 per ton, slightly lower than previous levels but consistent with Brazil's CFR level. TSP is sold at an offshore price of $410 per ton.
DAP in Europe continues to remain stable. But the rapid demand has driven up prices in the United States significantly, higher than in other global markets, attracting more Egyptian DAPs from NCIC.
Mexican buyers purchased more Russian DAP, while Argentine buyers purchased Moroccan MAP.
Price disconnect between India and China
The large supply of DAP/MAP in China will not appear until the end of April at the earliest, and since there is no need to sell to India yet, FOB will continue to be at different levels compared to India's CFR. But this situation cannot last long. In addition, the United States and Europe will continue to attract shipments from other sources this month, and most suppliers are not under pressure to provide lower priced DAP and MAP to India and Brazil.
