India: Prices decline on Hindalco deal, DAP tender

摘要

India's Hindalco bought 25-30,000 mt DAP in recent days at around $350/mt CFR, according to traders. It is believed that the purchase was to cover a DAP requirement for a domestic Punjab tender which Hindalco was awarded earlier in Q1. Hindalco's enquiry, which is understood to have been made in early March, saw five to seven DAP offers for West Coast India delivery. It is unclear which producer/trader was awarded the sale