Thin supply chains keep prices high even as buying slows

摘要

While producers continue to push for higher returns for sales, there are signs that buyer resistance has emerged as sellers sought $580/mt FOB from key supply benchmarks. In Europe, a more favourable exchange rate of $1.39 against the euro has spurred some additional buying. Nevertheless, sales of North African DAP/MAP to western Europe and the Mediterranean were concluded at $565-572/mt FOB, comfortably below earlier offers.