Views: 33 Author: Site Editor Publish Time: 2023-12-20 Origin: Site
Continuous demand in South Asia and stable prices
Trading activities are mainly concentrated in India and Pakistan, but prices are generally stable.
The Indian national NFL purchased 55000 tons of Moroccan DAP at a price of $590 per ton. RCF is seeking to purchase 40000 tons of DAP and ship it by the end of December. Ma'aden sold 25000 tons of DAP to Pakistan, and the landed price remained stable.
This week, a trading company sold some Chinese DAP/MAP in a tender to be shipped to the Midwest and South of the United States. This product was purchased before the tightening of export restrictions, and China is currently unable to supply the international market with goods. But Chinese buyers have always been active in the phosphate ore market, buying products from Egypt and Australia.
Brazilian buyers continue to wait, MAP prices remain stable, and there have been no transactions. The demand for SSP is returning.
In the United States, DAP and MAP barge prices continued to rise this week, reaching offshore prices of $570-576 per ton and $615-620 per ton, respectively.
Expected market stability
It is expected that prices will remain stable and demand will continue until the first quarter. The Asian market hopes to establish inventory before planting, while supply from China will remain tight.
After a record high import volume, Brazilian buyers continue to delay purchases, but when they return to the market, it will provide support for MAP prices.
