Views:2 Author:Site Editor Publish Time: 2020-08-18 Origin:Site
Tight supply drives up the price of DAP
Due to the tight supply in September, trading companies and importers competed for quotations, the export price of China's DAP rose again by US$7/ton FOB. Currently Chinese companies are not waiting for further price increases instead of sell them. Demand from India and Pakistan continues to increase, and this week procurement tenders in both countries closed for a total of 350,000 tons of DAP. India’s NFL and Pakistan’s Pakistan’s Arab finished their tenders. Supplies are tight in Jordan, Morocco, Egypt and Russia. Saudi Arabia sold 60,000 tons of DAP to India at a median price of US$330/ton CFR.
The MAP market in South Africa is more active, but the price is higher, with a median price of US$340/ton CFR. After the fire in June, the start of Foskor's MAP is still low.
The price of Mexican market is $345- $350 a ton, up $5 a ton from last week. It is estimated that Brazilian port stocks will reach 690000 tons of MAP this month.