The demand for ammonium phosphate in the United States and Brazil has rebounded

Mainstream market demand in the west of Suez rebounded, the price of DAP in Nora was stable, and MAP was in spot demand in Brazil.

In the United States, the high-end price of DAP barges has increased to $435-455 per ton FOB Nora, which is higher than last week's $435-440 per ton FOB price. The eastern futures price is higher than the CFR price, and the highest crude oil futures price in the United States is about $500 per ton CIF. A trading company imported 50000 tons of DAP from Jordan at the end of June.

 The sales price of Brazilian MAP is $430/ton cfr, and the trading prices of Russian products at the end of June and July were at this level, lower than last week's $430-440/ton cfr.

In the east of Suez, the CIF price of India's DAP dropped from 469-470 dollars/ton cfr to 453-455 dollars/ton cfr, which may soon be traded within this price range. Pakistan's import enthusiasm is still not high. The bidding for 400000 tons of DAP from the private sector in Bangladesh is still scheduled for June 25th. Due to insufficient sales and limited quotations, offshore prices in China have remained stable.

Local market demand rebounds

The increase in crop affordability has stimulated some demand in the United States and Brazil. Due to lower inventory in the United States, Nora prices will continue to increase. Brazil's spot demand has rebounded, helping to stabilize prices before soybean planting. But imports are still at record levels, and warehouse inventory is sufficient. India's inventory levels and imports of DAP have so far exceeded 4 million tons.