Views: 8 Author: Site Editor Publish Time: 2020-11-04 Origin: Site
Chad is the latest West African country who bid for NPKs, looking for 22,400 tons of 19-12-19+5S+1.2B and 1,750 tons of urea for shipment in February. The deadline for bidding is November 12. Due to the impaction of the Covid-19 epidemic in 2020, the cotton market is struggling. Following Burkina Faso and Cameroon, the demand of nitrogen, phosphorus and potassium for cotton has also decreased. Nevertheless, in a largely calm market, new demand is welcomed.
Mali, Benin and Togo have not tendered this year. All NPKs will be tendered between September and November 2019, and the total amount required is 419,100 tons, and 14-18-18 are the majority.
In India, the NFL received 30,000 tons of 10-26-26 from Sabic at a price of US$315-320/ton CFR. India’s tariffs have not been paid and will be shipped to the east coast of India in the second half of November. In the earlier of this month, a trader sold 30,000 tons of Russian 15-15-15 at a price of $270/ton CFR with India tariff unpaid,and they will arrive around November 5.
In the coming weeks, stabilizing raw material prices will not have an impact on the NPK market, but demand in many markets is weak, and several levels of wide bid-ask spreads are reducing liquidity.
