There are differing views on the near-term market direction. Although some slight increases were reported in China, market participants were cautious as fundamentals did not support price increases. Meanwhile, official Middle East postings demonstrated further declines. Most other prices were relatively stable as activity was limited, but players hope for increased action in the wake of current Indian phosphate tenders. Tasweeq announced its QSP for April at $78/mt FOB Ras Laffan, down $9/mt. The price is roughly in line with expectations, after the producer's recent tender that closed March 15 was reported awarded at $79/mt FOB. It represents delivered levels to China around the high $80s/mt CFR, in line with current market levels. Adnoc is expected to finalise its April price on April 3.
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