Views: 8 Author: Site Editor Publish Time: 2022-10-19 Origin: Site
Pakistan was the focus of market activities in the east of Suez this week. The importers arranged two shipments of Moroccan goods to be shipped later this month.
India's DAP procurement slowed down, and more than 1.4 million tons will arrive in October. With the full launch of rabi season, we will purchase on demand in the later stage. At the same time, China's DAP level fell to 710-720 USD/t fob. OCP won all contracts of EABC's 1.28 million ton NPS procurement bidding.
In Europe, to the west of Suez Canal, the DAP level dropped to $900/t fca Ghent, and the demand was weak.
In Latin America, the price of MAP cfr in Brazil fell to US $630-680/t cfr, while the demand in Argentina was small. Russian MAP was sold to Mexico at the end of this month at the price of 710-720 US dollars/ton of cfr east coast.
In the Indian subcontinent, the drought in east of Suez has temporarily eased. However, once the Rabi purchase is completed and India's subsidies are reduced, importers will reduce the cfr level and build up inventories before the summer kharif season.
In the west of Suez and in the Americas, prices will continue to decline. The price of Nora barge is much higher than that of Brazil.