Views:3 Author:Site Editor Publish Time: 2020-10-13 Origin:Site
Due to the dual effects of weakening demand and limited supply, the prices of DAP and MAP in the main destination markets remained basically unchanged this week.
East of Suez, India has reached two new orders. Importers are waiting for shipments in November. The source of the goods is China, and the price is about US$370 ton CFR. Saudi Arabia's Ma'aden also sells DAP at a price as low as US$370/ton CFR. Pakistan has not received any new orders recently, but market participants expect that there will be further purchases after the return of Chinese companies.
In Brazil, the ongoing drought has delayed soybean planting. Russia's Phosagro sells 10,000 tons of MAP at a price of $365-370 tons CFR. Morocco OCP also sold 40,000-50,000 tons of MAP at this price.
The price of DAP/MAP in Argentina is still around US$380/ton CFR. Phosagro sold a portion of DAP to Peru, which was shipped in November at a price of US$380/ton CFR.
Pakistan’s DAP sales may increase, but demand in India, Brazil and Argentina has slowed.