Views: 6 Author: Site Editor Publish Time: 2023-08-04 Origin: Site
The bullish sentiment in the east of Suez is strong. Due to tight supply and continuous demand, prices are stable and consolidated. With the recent increase in bidding prices, the DAP price in India has increased from $435 per ton to around $440 per ton. The FOB price of DAP in China has also rebounded to $440- $455 per ton, mainly due to increased sales to Nepal and Bangladesh by manufacturers, resulting in higher quotations. According to the latest indications, to the west of Suez, the MAP price of Brazil is 470-480 dollars per ton, and the Russian quotation has been withdrawn from the market. SSP prices have also increased, with 19% of product prices rising to $210- $220/ton cfr, and 20% of product prices rising to $230/ton cfr. According to the latest signs, the CIF price of DAP/MAP in Argentina has increased to $490-500 per ton cfr.
Expected strong operation of ammonium phosphate market
The price of DAP will remain firm in September. The rainfall in India remains strong, exceeding predictions. Some suppliers are also willing to sell to Bangladesh, which will further tighten supply. To the west of Suez, tight supply, rising ammonia contracts and last minute import demand from Brazil and the United States will support MAP prices in September.
