The price of DAP in Suez is stable; The price of MAP in Suez declined

International phosphate fertilizer trade slowed down this week, and buyers waited for declining of price, while sellers were unwilling to lower their prices. China's export volume is limited, but due to weak demand, the price of DAP drops to 700-710 USD/ton FOB. India's import demand is scarce. Pakistan purchased 15000 tons of DAP from Morocco this week and 20000 tons last week. A total of 35000 tons of DAP goods are scheduled to be shipped at the end of this month. It is reported that the DAP/MAP MPC facility with an annual capacity of 3 million tons in Ma'aden, Saudi Arabia, has been closed and is expected to stop production for 40-50 days.  

In the west of Suez, the demand in Brazil continues to be delayed, and the price of MAP drops to USD 600-650/ton CFR. At the same time, Argentina's rainfall forecast next week may slightly increase demand. Mosaic sold 5000 tons of DAP to Latin America at a fob price of US $700 per ton and shipped it in early November. In the domestic market of the United States, the price of a MAP barge also rose sharply from $725/st last week (fob Nora Port) to $755/st.

Some potential DAP demand in India may appear in the next two weeks, but once the demand is met, the price in the east of Suez will drop, and the shutdown of the Ma'aden plant in Saudi Arabia is expected to increase some temporary support. Brazil is basically not interested in importing MAP at present, but the international price of MAP is low at present. Brazil's phosphate import should reappear early in the first quarter of next year.