The price of Nora DAP has significantly declined

Market sentiment of ammonium phosphate was pessimistic, and the price of phosphate fell further.

 

India DAP price fell to the low end of $490-495 per ton of cfr,the price is lower than the price of $511-513 per ton last week. According to the latest signs, FOB price of China has correspondingly declined to $480- $485 per ton.

 

The DAP price in Northern Europe is between 590 to 660 US dollars per ton, price is in low end in July and August. NCIC Company in Egypt will conduct another bidding for the sales of products at the end of June on May 29th, providing 30000 tons of DAP, as well as SSP, TSP, and phosphoric acid. And Ma'aden from Saudi Arabia has arranged a total of 115000 tons of MAP, which will be shipped to Brazil in June.

 

In the west of Suez,the CIF price of Brazil's MAP fell to $480-500 per ton cfr, and 19% of SSP also declined. In the United States, DAP barges keep stable at $450/ton offshore from Nora, while MAP declined to $450- $460/ton offshore.

 

The market is still weak

 

At the IFA meeting this week, market participants were generally bearish, with Indian importers increasingly able to lower CIF prices. By the end of this month, India's total inventory will exceed 4 million tons, while import demand from Pakistan and Bangladesh has not yet started. Brazil has sufficient MAP reserves and current spot demand still weak.