Views: 20 Author: Site Editor Publish Time: 2023-09-14 Origin: Site
Suez East DAP Market
India's demand continued to follow up this week, with DAP prices rising in the east of Suez and prices stabilizing in the Americas.
Indian buyers purchased DAP from Morocco and Russia for $570/ton/cfr, with plans for loading from October to November. Earlier this week, an importer purchased 30000 tons of Russian DAP for $559 per ton of cfr and will load them next month. Due to tight international supply in the coming months and limited import time in the main demand market, prices will rise.
At the same time, DAP prices in Europe and the region west of Suez are generally stable. Brazil's DAP/MAP remains at $530-535/ton/cfr, while Argentina's DAP/MAP has decreased to $545-555/ton/cfr. The DAP barge price in the United States is at a low point of $520/ton FOB Nora, while the MAP trading price is $625-630/ton FOB.
The DAP market has temporarily stabilized and is expected to weaken in the future
Under tight supply support, DAP prices east of Suez will remain firm, while demand remains. If India extends subsidies from October to March, then this will further support DAP prices in the short term. But as demand weakens, international prices from November to December are expected to come under pressure. MAP prices west of Suez will decline, with Brazil's record import volume putting pressure on the market, while prices in the US market are expected to decline after October.
