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DAP prices remained under bearish pressure in December 2022, with the CIF India price falling to $765/MT and Ex-Riyadh spot assessed at $770/MT. Chinese DAP FOB fell about 4% week on week, and buyers expect prices to decline from December into January.
A Russian sale of about 40,000 tonnes at $855/MT CFR was noted.
Weak DAP prices and sufficient Saudi and Chinese supply point to lower phosphate input costs for feed producers and mixers, though import volume queries for 2023 may limit the downside.
chemanalyst.comTimothy GreeneDec 16, 2022Not 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.
