Views: 10 Author: Site Editor Publish Time: 2023-03-14 Origin: Site
The prices in the east and west of the Suez Canal fell, and the demand was weak. India did not import this week, and the price keep stable, but China's DAP offshore price declined. There was a DAP transaction sold to India, which reflected that the cost and freight was around 620 US dollars/ton, but there was no new transaction this week. RCF will end DAP procurement bidding on March 13. The quotation shows that China's DAP fell to 610-615 US dollars/ton fob, and the price may continue to decline.
The price of MAP 11-52 fell to 645-650 US dollars/ton cfr Brazilin west of Suez, mainly due to the weak demand. DAP/MAP offers roughly the same price to the east coast of Mexico. US supplier Mosaic sold 6000 tons of DAP at a FOB price of US $635 per ton, lower than the FOB price of US $650 last week. The price of Cfr in Argentina is stable.
The price of SSP 19% fell to US $250-260/ton. A supplier may have purchased 25000-30000 tons of Tunisian 20% SSP, which will be shipped later this month, which reflecting that Brazil's cost and freight is about 275 dollars/ton. In NCIC's sales bidding on March 8, there were no confirmed bids. Some of them showed that DAP bid was about 630 dollars/ton, and the bid of SSP 19% was about 215-220 dollars/ton.
The prices in east and west are expected to remain weak
Although Brazil's imports will goes up around the next month, prices are expected to continue to decline. Indian buyers will continue to hold down prices. If China's export picks up, the export price will fall sharply.
