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A major Indian importer bought 100,000t each of DAP and TSP for June-July shipment from Morocco. DAP was priced at $935/t cfr and TSP at $710/t cfr, in line with recent tender awards.
Netbacks are about $880s/t fob for DAP and $660s/t fob for TSP.
Large Indian purchases at high DAP prices confirm strong import demand and support global phosphate price levels.
argusmedia.comTom HampsonMar 25, 2024After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
