Di Ammonium Phosphate Fertilizer Prices Keep Dropping in a Narrow Range, Keeping the Market Flat
- 21-Mar-2023 6:44 PM
- Journalist: Harold Finch
This week, Di Ammonium Phosphate prices in the east and west of the Suez Canal fell, and the demand remained weak as the major importer, India, did not place any import orders this week, which kept the prices stable. Di Ammonium Phosphate prices in the European market were either stable or decreased due to the decline in downstream fertilizer demand.
China's Di Ammonium Phosphate offshore price declined. There was a Di Ammonium Phosphate transaction sold to India, which reflected that the cost and freight were around 620 US dollars/tonne, but there was no new transaction this week. The quotation shows that China's Di Ammonium Phosphate fell to 610-615 US dollars/tonne FOB, and the price may continue to decline.
Similarly, the Brazilian price of Di Ammonium Phosphate fell to 645-650 US dollars/tonne CFR west of Suez, mainly due to the weak demand. Di Ammonium Phosphate offers roughly the same price on the east coast of Mexico. US supplier Mosaic sold 6000 tonnes of Di Ammonium Phosphate at a FOB price of $635 per tonne, lower than the FOB price of $650 last week.
The Di Ammonium Phosphate Market in the west of the Suez Canal is relatively stable. The latest signs show that Brazil's Di Ammonium Phosphate price fell back to $645-655/tonne. The west market is calm, while the east market is weak as the market activity in Brazil remains calm, and importers continue to wait.
As per ChemAnalyst, springtime demand in the United States and Europe might offer some unexpected support in the upcoming weeks. Next month could see an increase in China's exports, which could lead to another drop in international prices. Although Brazil's imports are likely to rise in the coming month, prices are expected to remain low. The import demand that is still present before the spring demand is the main reason for the moderate amount of demand anticipated in the following weeks.