At the beginning of this week there were two schools of thought regarding the phosphoric acid price negtoiations. Most agreed that one price for H1 was the most likely outcome while others speculated that a Q1 price may still be agreed at the last minute. Either way, buyers are now looking for a price reduction on the $765/mt P2O5 CFR or at worst, a rollover. The weaker rupee is a further driver in the aim to achieve a more competitive price. However if negotiations are further delayed into Q2, e.g. into May, suppliers stand a better chance of higher prices as demand will be picking up with producers looking to ramp up production ahead of the Kharif season.
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