Views: 15 Author: Site Editor Publish Time: 2023-03-29 Origin: Site
India's import price of DAP continues to decline
Phosphate prices in both the eastern and western parts of the Suez Canal have declined, with only a few markets experiencing active demand.
The CIF price of DAP in India fell to 590-614 dollars per ton from 614-615 dollars per ton last week. RCF purchased two batches of 50000 tons of DAP goods at high-end prices in a bid on March 13th, while importers are pushing prices towards the low end. The importer's counteroffer has been reduced to less than $600 per ton for cost and freight (one transaction has not been confirmed). Elsewhere, Pupuk from Indonesia closed the DAP sales bidding with a minimum offer of $565/ton cfr and a delivery date of September. China's DAP fell to $590-600 per ton from $600-605 per ton last week.
In Europe, the Benelux Netherlands Luxembourg DAP fell to about $700 per ton(cost and freight). To the west of the Suez Canal, Argentina had some demand, and the price fell to $650-660/ton cfr.
The trade of MAP in Brazil is still very few,and there is no new import transactions. MAP prices fell to $620-630 per ton, and 19% of SSP prices fell to $230-240 per ton.
The demand is weak overall
High inventory levels in major demand countries, increased supply from China, and limited demand are driving down global prices. Importers lack confidence in the future. Brazil will continue to delay purchases. Indian importers will continue to hold down the price of DAP.
