Views: 16 Author: Site Editor Publish Time: 2023-08-17 Origin: Site
The price of DAP continued to rise this week, driven by the upward trend of DAP enterprises east of Suez. China's supply of goods is tight, pushing prices up to 530-550 US dollars per ton FOB, with manufacturers reporting quotes up to 600 US dollars per ton FOB. Earlier this week, Indian importers obtained a batch of goods from China and Morocco at a price of around 540 US dollars per ton/cfr, and have already paid the full amount for the goods. RCF's procurement inquiry on August 11th may further clarify Indian prices. Bangladesh is expected to release the procurement bidding for DAP and TSP again on August 24th. Pakistani importers have not yet fully returned to the market, but a major importer has arranged for two batches of 25000 tons of goods from Saudi Arabia to be shipped in September. The latest quotation is approximately $550 per ton for cost and shipping.
To the west of the Suez Canal, the MAP price in Brazil has risen to $530 per ton. Argentina is also very active, with MAP sold at a low price of $530/ton/cfr earlier this week, and now the price has risen to $540/ton/cfr. At the same time, the United States remains the world's highest priced market, with a MAP of $635 per ton FOB and a DAP of $530-545 per ton FOB.
30-60 day forecast
Due to strong demand from the Indian subcontinent, the United States, and Europe from September to October, as well as tight supply from China, DAP prices will remain strong and rise in the coming month. But prices will then be under pressure from a decrease in affordability and a weak urea market. The demand in Brazil is weakening, currently dominated by record levels of imports of MAP and SSP from Brazil.
