Views: 8 Author: Site Editor Publish Time: 2023-02-15 Origin: Site
The market activity was low this week, and the quotations in some regions continued in the early stage. The main trading area is Pakistan. Engro purchased 25000 tons of DAP from Ma'aden, and it is reported that 25000 tons of Saudi DAP were sold to Kenya at a transaction price of 640 US dollars/ton.
In India, NFL has not announced its bid price on February 4, and it is reported that the price is between 670-690 US dollars per ton/ton cfr. The contract price of phosphoric acid was implemented in the first quarter. CIL and Nutrien agreed on the CIF price of 1050 US dollars/ton P2O5, which is consistent with the agreement between CIL and Foskor last week.
In the west of Suez, Incofe will end the bidding for small-volume DAP procurement tomorrow. This week, the Brazilian market was quiet, and MAP prices weakened slightly at a low level to US $652-660/ton CIF. However, due to the decrease of import volume and low inventory in 2022, the demand is expected to increase significantly in March. 20% of SSP in Egypt is sold at 300 USD/ton CFR. In Argentina, the traders quoted USD 690-700/ton for Morocco DAP/MAP. US prices are under pressure.
The price in the west of Suez is stable, while the market in the east is weak
Import demand across Asia will remain weak in the first quarter. Before the demand of the United States and Brazil picks up in March, a small amount of procurement in the western market will keep the price stable.
