China: Domestic MAP prices decl

摘要

With a seasonal slowdown in domestic MAP purchasing and indications of weaker NPK production, domestic MAP prices have seen further declines this week. MAP 11-44 prices are now seen in the RMB 1,700-1,800/mt ($262-278/mt) EXW range, a decline from RMB 1,750-1,850/mt EXW last week. This price is believed to be at or below cost for most Chinese MAP producers and with export prices at around $280-285/mt FOB currently, there is little opportunity for margins for Chinese suppliers.