Views: 19 Author: Site Editor Publish Time: 2023-10-10 Origin: Site
European prices rise, NFL provides Indonesian NPS
Due to the increase in costs, the prices of 15-15-15 in Germany and Spain have risen, helping manufacturers' net profits also increase. Most Asian markets have performed mediocrely this week, mainly due to China's National Day holiday. But in India, NFL received a quotation for 30000 tons of Indonesian 20-20-0+13S in a bid released last week. This is the only quotation received by NFL, with a CFR quotation of $420 per ton. The agreement has not yet been reached, and negotiations are ongoing, but the quotation has slightly decreased compared to the current evaluation of India's imports of this level of product. However, this small decline does not reflect the overall market situation.
The market factors
1. FACT cancels NPK bidding
Indian importer FACT has cancelled its bid for the purchase of 70000 tons of 15-15 and 35000 tons of 10-26-26. The 15-15-15 tender seeks two 35000 ton cargo ships to be delivered to Tuticorin and New Mangalore respectively. The bidding requirement for 10-26-26 is to deliver the ship to Vishakapatnam. These two transactions were originally scheduled to close on October 9th.
2. Reduced ammonia activity
The recent surge in global prices and holidays in Asia have slowed down ammonia trade activity this week. But the market remains stable.
Outlook for 30-60 days
Strong
The rise in raw material prices continues to indicate the strength of the composite fertilizer market. But the lowest cost producers still can limit the extent of price increases to ensure market share.
