Views: 78 Author: Site Editor Publish Time: 2023-09-20 Origin: Site
Boosted by further procurement from Pakistan, sustained demand from Bangladesh, and rising settlement prices for phosphoric acid in India, DAP prices in the eastern region of Suez have increased.
This week, Pakistani importers purchased 115000 tons of DAP from Morocco, Saudi Arabia, and China, with the latest transaction reaching a maximum of $605-610 cfr per ton. In India, the CIF price of DAP has risen to $590-595/ton cfr, and an importer has purchased 50000 tons of Jordanian DAP, which is equivalent to the high level of $580-590/ton cfr loaded in October. Most local trading companies in Bangladesh find it difficult to open letters of credit (LCs), forcing the authorities to issue another bid.
West of Suez, the MAP price in Brazil has once again stabilized at $530-535/ton/cfr, while the DAP/MAP price in Argentina has remained stable at $575/ton/cfr.
Stable operation of the international DAP market
Due to the rapid increase in demand for DAP in South Asia, prices have received good support in the short term. In addition, there is additional upward pressure on the ammonia price of the raw material. But once the demand in the main market weakens, the prices of goods shipped from November to December will stabilize.
