Morocco: Firmer price in Brazil fails to prompt Moroccan MAP shipments

摘要

Despite signs of improved demand and price for MAP in Brazil, neither is yet sufficient to prompt the start of OCP's shipping campaign into Brazil. OCP is yet to indicate a firm price for MAP shipments to Brazil in May and as such has not finalised any cargoes despite the recent firmer sentiment now starting to emerge from South America. This month OCP has been shipping the 100,000 mt NPS 12-46-0+7S, into Brazil, sold in the mid $470s/mt CFR, and these shipments will continue into early May.