The price of DAP remained stable in the east, while the price of MAP fell

With the high level of business in India and the decline in the price of MAP in Latin America, the gap between the price of MAP in Brazil and the price of DAP east of Suez continues to narrow.

Sabic sold 30,000 tons of MAP to India at a low price of US$630/ton CFR, which will be shipped next month, which is higher than the earlier US$628/ton CFR. China lacks export offers, and buyers cannot purchase more goods for India and Pakistan. The price of DAP in China has risen from US$570-577/ton FOB to US$580-590/ton FOB, and export prices have increased. The level of MAP in Brazil has dropped from US$760-770/ton CFR to US$755-765/ton CFR. The actual price may be lower, and producers have not yet reported sales at lower prices. Purchasing activities in Europe have basically stopped, and suppliers are working hard to increase FCA prices. OCP's target price for DAP is US$715-720/ton FOB.

Rigid demand still exists in the eastern market, but general demand in the western market

Price momentum continues to shift from the Americas to the eastern market. India still needs to purchase a large amount of DAP in winter, and Pakistan will also return to the market. Chinese producers have tightened supplies and are cautious about possible increase in export tariffs. Demand from the United States and Brazil is flat, and Argentina is expected to have further procurement plans.