Views: 10 Author: Site Editor Publish Time: 2023-02-09 Origin: Site
India has become the focus of the market again
This week, an Indian importer signed a phosphoric acid contract with Foskor, South Africa. The Indian government also announced the subsidy budget for the fiscal year 2023-24, and the funds for phosphate and potassium fertilizers will be reduced by 38%. The DAP price in China fell to 630-640 USD/ton FOB, and the price in the South Asian market was stable. The devaluation of the Pakistani rupee and the large carry-over of inventories led to weak import interest. India did not purchase DAP this week, and NFL, the importer, postponed the bidding for purchasing 100000 tons of DAP to February 4.
To the west of Suez, the focus is on the FLA industry conference in Rio de Janeiro. The market price in Brazil is basically the same as last week, with monoammonium phosphate 11-52 at $655-660/ton cfr, 19% of SSP rising to $265-275 per ton of cost and freight, and the trading company quoted $280 per ton of cost and freight. The price in Argentina is slightly firm, and a trading company sells MAP at the price of 700 dollars/ton cfr. Russia's DAP is about 680-700 US dollars/ton cfr. The price of MAP barges in the United States fell to $585-615/st, fob Nora.
The price in the west of Suez is stable, while the market in the east of Suez is weak
It is expected that there will be more demand in the United States and Brazil in the first quarter. The United States may continue to drive DAP shipments in North Africa and the Middle East. But now barge prices are under pressure. By the end of the first quarter, the purchase demand of India and Pakistan will slow down.
