Saudi: DAP market prices lower FOB levels

摘要

Ma'aden is believed still to be negotiating another cargo into India for January/February under a Memorandum of Understanding, with lower indications around $390-395/mt CFR from India, as well as a possible second sale of mainly DAP to East Africa. Sabic is sold out for January and is looking at February deals. The company recently said it had received offers from India, Pakistan and Brazil, but had not decided on whether to go with DAP or MAP production for February. Sabic is targeting $400/mt FOB or higher for upcoming deals, but recently said new enquiries represented a netback lower than this target.