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Di-ammonium phosphate (DAP) prices fell east and west of the Suez Canal this week as demand stayed weak. India placed no import orders, and China's offshore price slipped to $610-615/t FOB.
Brazilian prices eased to $645-655/t CFR, and Mosaic sold 6,000 t at $635/t FOB, down from $650.
Weak Indian buying and soft downstream demand keep phosphate prices pressured. Buyers of DAP-based feed phosphate can expect little near-term upside, though springtime demand in the US and Europe could offer some support.
chemanalyst.comHarold FinchMar 21, 2023Not 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.
Weak demand, no Indian import orders and falling China, Brazil and Mosaic DAP prices in the week of 2023-03-21 show the bearish price pressure that preceded the drop, though the event is nine days before the move.
