Attempts by JPMC and Mosaic to push up phosphate rock prices by as much as $15-20/mt in response to the recent jump in phosphoric acid prices has led to a delay in many first-quarter contract settlements in India. Buyers of 68-70% BPL (31-32% P2O5) Jordanian rock including IFFCO and Sterlite are understood to still be in discussions over new contracts for Q1/H1. Offers are rumoured at around $115/mt CFR, a near $20/mt rise on Q4 prices, according to market sources.
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