India: DAP prices continue to slide

摘要

A new flurry of sales for late August loading have been concluded at around $470-474/mt CFR with unconfirmed reports of even lower numbers in the $460s/mt CFR now being agreed. As Chinese suppliers de-stock ahead of the new VAT, due to be imposed from September 1, buyers have booked cargoes at lower prices. Firm price indications for September loading from suppliers are still elusive.