DAP/MAP markets inactive as demand glut goes on

摘要

Global DAP/MAP markets were largely inactive this week due to sluggish demand and the Thanksgiving holidays in the US. In the days leading up to the annual US Thanksgiving holiday on November 28 traders holding DAP at New Orleans rejected another round of lower bids, this time in the $230s/st FOB. However, some key inland prices declined sharply. Those prices mostly fell more in line with indications for replacement DAP/MAP out of the barge market. This likely will make it more difficult for suppliers to find support for a rebound at New Orleans in the near term.