China's DAP operating under pressure
Publish Time: 2021-03-23 Origin: Site
The price of DAP fell to US$550-555/ton FOB, which was a drop from US$570/ton FOB two weeks ago. The suspension of purchases in Southeast Asia, rising freight rates, and increased supplies are the reasons for the decline. A trading company sold 16,000 tons to Central America at an FOB US$550/ton.
Three companies won total 220,000 tons in Pupuk's DAP tender. This week, India has no trade, only phosphate rock bidding.
In the west of Suez, Argentina purchased two ships at a price around US$630-635/ton CFR. The price in Brazil is in the range of US$625-630/ton CFR, but OCP is pushing up prices. Mexico purchases at a price US$600-605/ton CFR.
DAP’price in China will fall to meet the Indian market. However, under the demand from Bangladesh and Pakistan, the decline was limited.