DAP prices continue to slide as Pakistan sees purchases
Publish Time: 2022-09-27 Origin: Site
India again dominated the phosphate market this week, with DAP sources coming from China, Russia and Saudi Arabia.
Two Chinese DAP cargoes were sold to India at $750/ton cfr, and today's Russian cargo was sold at $720/ton cfr. An importer in Pakistan ordered a Chinese shipment at a higher price, and another importer may have purchased a Saudi shipment. Reports emerged today of yet another DAP sale by China to Pakistan, but not confirmed. Sales to India pushed Chinese DAP down to $720-755/t fob China from last week's $745-770/t fob China.
In Europe, DAP prices are on a downward trend, but demand has slowed and prices continue to be weak. West of Suez, Brazilian MAP prices fell as market trading stalled, dragged down by Chinese NP. Meanwhile, prices at Nora port continued to soften.
DAP East of Suez prices still lower
DAP procurement for Rabi season in India has been basically completed. The price for November arrival is $720/ton CFR India, which is lower. Pakistan has almost no import demand. India's DAP subsidy will be scaled back next month. Trading in the Brazilian market was stagnant and Nora prices softened.