Views: 19 Author: Site Editor Publish Time: 2021-06-29 Origin: Site
Prices of DAP in India and MAP in Brazil increase
The activity of the phosphate market decreased this week, but trade activities in the main markets continued. The price of Indian DAP rose after the transaction at Ma'aden, Saudi Arabia, at a price of US$590/ton CFR, which was higher than the company's latest new price of US$570/ton CFR. Indian importers are still restricted by lower domestic prices, and the break-even point of their imports of DAP is US$560/ton CFR. Bangladesh’s bid for DAP has increased from the initial 700,000 tons to 850,000 tons. It is expected that all sources of supply will come from China, but the official notification is still waiting.
The price of MAP in Brazil firmed to US$753-758/ton CFR, mainly due to the mid-range sales price of MAP in Russia and Morocco rising by US$8/ton. There is no change in US barge prices this week.
Concerns about China's export tariffs, increased purchases from Bangladesh, and purchase demand from India boosted the sentiment of the DAP market. In the west of Suez, buyers said that the volatility of crop prices has restrained the price increase, but due to the tight supply and other factors, there is still room for ammonium phosphate prices to rise in the coming weeks.
