DAP weakness yet to tempt substantial India activity

摘要

The DAP-price standoff between Indian buyers and global suppliers showed little sign of abating this week as exports began to build from China and prices again eased across the board. The lowest offer in NFL's tender for 100,000 mt DAP in India this week was $366.66/mt CFR. This level essentially represents a midpoint between most supplier offers at $370-375/mt CFR and buyers' calls for DAP below $360/mt CFR. Still, this week there were two MoU sales by Ma'aden for May shipment to India and one secured by Sabic to India in the $368-372/mt CFR range, according to sources.