Views: 7 Author: Site Editor Publish Time: 2023-02-02 Origin: Site
The demand in the east of Suez is weak, while the price in the American market is rising, and the suppliers will shift their focus to the west.
GCT has completed the sale of 40000 tons of DAP, which will be shipped to the United States at the beginning of next month. The manufacturer has shipped the goods in January to India through a trading company. Next month's Jordan DAP may have finished loading the United States.
However, the Brazilian MAP market is relatively calm, and traders will wait and see for a while before an important regional industry conference is held next week.
Egypt NCIC ended the monthly sales bidding on January 25, providing DAP, TSP, SSP and phosphoric acid. The maximum price of DAP small tonnage is about 700 USD/ton FOB, which may be quoted for Europe.
The market to the east of Suez was depressed due to the Lunar New Year celebrations in China and Southeast Asia. The price of DAP fell to US $630 per ton, but the quotations in the Southeast Asian market roughly reflected the FOB price of US $635-650 per ton. The latest signs show that the DAP price in India is 660 US dollars/ton cfr. An Australian importer has loaded 15000 tons of Jordanian MAP to the east coast in late February.
The west is stable while the east is weak
It is expected that DAP buyers in India will not return to the market until March. In the short term, the stable purchasing power of Brazil and the United States will support prices in the west. During this period, the price may be dragged down by the decline of nitrogen fertilizer price.
