Views:8 Author:Site Editor Publish Time: 2021-06-08 Origin:Site
Prices continue to rise due to rising raw material costs and tight supply, and upward price pressure continues. Market sentiment remains bullish. At the same time, rising freight rates have pushed up CFR CIF prices. Manufacturers have better expectations for June and July and continue to increase their quotations because there are fewer and fewer products available during this period. Due to concerns about shortages, Eastern European buyers are scrambling to buy products, so discussions on August shipments have begun.
This week, Russia's 15-15-15 and 16-16-16 prices rose again, and the median price rose by US$10/ton and US$12.5/ton respectively. In Southeast Asia, signs have also increased, with 15-15-15/16-16-16 CFR prices rising from US$395-420/ton to US$420-450/ton. Rising raw material prices have pushed up the prices of China's NP, NPS and NPK.
1. The price of phosphate has risen sharply
With rising production costs, the sharp increase in DAP/MAP prices this week may push up NPK prices.
2. Looking for goods in India
The lack of quotes in the RCF and NFL tenders this week not only reflects the tight supply, but also the fact that producers are shifting their attention to other more profitable markets. Indian importers may have to accept higher prices to ensure product safety.
3. The freight is firm
Rising freight rates will continue to be a major challenge for suppliers. Therefore, buyers will either have to accept higher CFR prices, or suppliers will have to accept lower FOB levels.
30-60 day outlook
The producer is very comfortable. Strong demand in India, Latin America and Eastern Europe.
The sharp increase in phosphate prices this week will support higher NPK pricing, especially for high phosphorus ratios, such as 10-26-26, which are currently in high demand in Eastern Europe and India.