Stress builds as DAP/MAP markets remain quiet

摘要

Demand remains slow across almost all DAP/MAP markets this week, forcing one Chinese producer to cut production and Mosaic to repurchase some of its own barges in an attempt to combat weak prices. With the US market yet to really come into force and prices remaining depressed, this week, Mosaic stepped into the barge market as a buyer. Frustrated by market decline, the company repurchased six DAP barges at $329/st FOB, and then posted an offer for its own January sales at $345/st FOB New Orleans. Wet weather makes discussion of potential US spring demand or further price shifts unnecessary across key inland markets.