The price of DAP in East Suez fell, while Brazil's MAP continued to rise
Publish Time: 2022-12-29 Origin: Site
The price of DAP in India and China fell this week, while the price of MAP in Brazil rose.
The CIF price of India fell to 709-712 US dollars/ton. It is reported that the goods are sourced from China, Russia and Jordan. The trading from China reflects that the FOB price per ton is around 685-690 US dollars, which is the low end of this week's range. There is still no demand from Pakistan. Indonesia Pupuk held a tender for the purchase of DAP today. It is reported that the lowest quotation is USD 665 per ton CIF for shipment from March to June.
The price of DAP in Europe weakened slightly, and there were signs that the northern market was consolidating around 800 dollars/ton of fca. In the west of Suez, the CIF price of MAP increased to 640-650 dollars/ton, and the sales were at the low end of the range.
With the end of rabi season in winter, the demand for DAP in India will tend to be weak. Before Ramadan in summer, demand is expected to appear sporadically, and market prices are expected to decline. Driven by a reasonable barter rate, the demand of Brazil will supports the market price of MAP west of Suez.