Views: 24 Author: Site Editor Publish Time: 2022-03-23 Origin: Site
The prices keep increasing in West of Suez
Market prices rose in west of Suez, especially in Latin America and Europe. Moroccan MAP was traded at $1,250/ton CFR Brazil, an increase of $50/ton from last week. In Argentina, DAP/MAP prices stabilized in the $1,250-1,272/t cfr range, with an increase of $86/t from last week's midpoint. U.S. DAP barge prices rose $28/st to $940-990/st FOB Nola, and DAP rose $33/st to $950-975/st FOB Nola.
In Northwest Europe, Ghent offers jumped from $1,090-1,150/t fca last week to $1,240-1,300/t fca.
A sharp rise in prices west of Suez over the past month has boosted eastern markets on the side. DAP offers to India are reported to be above $1,000/t cfr, but no deal has been done. Chinese producers have also raised their offers for a small number of exports due to higher prices in Latin America.
Market sentiment remains firm
The market sentiment remained firm in west of Suze, with price gains slowing slightly this week compared to last week. Buyers in India have to pay high fees to compete with importers in Latin America, but this depends on the new level of subsidies.
