Views: 3 Author: Site Editor Publish Time: 2024-11-13 Origin: Site
Ethiopia, India support China and Saudi Arabia
DAP dominated activity in the east this week. Commitments to Ethiopia tightened Chinese DAP supplies, pushing its high-end price up by $5/ton to $610-620/ton (FOB China). Ethiopia's EABC has bought up to 400,000 tons of DAP, including 195,000 tons from China, and negotiations for further cargoes through February are ongoing. India, not to be outdone, bought 145,000 tons of DAP this week, including 110,000 tons of Saudi Arabian DAP at $635/ton cfr, as well as 30,000-35,000 tons of MAP and 15,000 tons of TSP. The latest NFL DAP tender is underway. Bangladesh has another private tender for DAP and TSP, which will close this weekend. But payment remains a problem. Prices west of the Suez are largely stable. South Africa's Foskor completed a sales tender for MAP, while Brazil finally saw some MAP spot transactions, keeping prices at $635/t cfr.
Overview: Basically stable
Various tenders and tight supply will support Chinese DAP prices. But outside of these tenders and India, demand for DAP is weak. MAP will lose support as its demand season in the west has ended.
