Views: 2 Author: Site Editor Publish Time: 2023-06-06 Origin: Site
This week, the market performance was relatively quiet. India's DAP procurement slowed down, and the market price fell further. The CIF price for DAP India has decreased from $490-495/ton last week to $480-487/ton/ton. In other places, import demand from Bangladesh and Pakistan has not yet emerged.
DAP China's offshore price has dropped to $470-475 per ton, a decrease of $10 from last week. DAP prices in North Africa have fallen, with news suggesting that Egypt has reached an offshore price transaction of $490 per ton. The manufacturer NCIC did not confirm this matter. The DAP price in Northern Europe is roughly between $580- $645 per ton, and high-end prices are only applicable for small batch spot deliveries.
The MAP price west of Suez fell by over $20 this week to $460-475 per ton (cfr Brazil). In the United States, DAP barge prices remain stable at $450 per ton FOB Nora.
The market trend remains bearish
Prices in the eastern and western regions will continue to decline. India's DAP inventory will continue to rise. Continued purchases will increase the negotiating position of importers and force manufacturers to further lower prices. Brazil's spot demand remains weak, and although supply is stable, downward pressure on MAP and SSP prices remains significant.
