Views: 4 Author: Site Editor Publish Time: 2023-06-20 Origin: Site
Recently, India's import enthusiasm has decreased, while the price of MAP in Brazil has also declined due to the latest business. In the east of Suez, the CIF price of DAP in India fell to 469-470 dollars/ton from 480 dollars/ton cfr last week. This week's market activity is scarce, and next week's RCF bidding will make market prices clearer. The buyer's intention has dropped to $450 or less per ton.
At the same time, the FOB price of DAP in China has decreased from $460-465 per ton to $450-460. Saudi Arabia's Sabic company has prepared 60000 tons of DAP/MAP for the United States, which may be shipped later this month. The decline of CIF price in Türkiye has put pressure on the price of DAP in North Africa. The price of DAP in Europe has also declined, with very little sales.
In Brazil, MAP has dropped from $440 to $460 per ton landed last week to $430 to $440 per ton landed. The price of 19% calcium superphosphate decreased by $5 to $150- $155 per ton landed. Traders are shipping 19% of calcium superphosphate from Egypt at a transaction price of $135 FOB per ton. The price of DAP in the United States is relatively low, ranging from $440 to $462 per ton (FOB Nora).
The market trend remains bearish
The slowdown in India's procurement of DAP will increase the pressure on suppliers. Pakistan continues to wait and see, and it remains to be seen how much Bangladesh will purchase under its bidding. Given the high inventory levels in Brazil, the CIF price of MAP in Brazil will continue to decline.
