Pakistan: DAP price flat amid likely devaluation

摘要

Import DAP activity in Pakistan remains slow amid ample carryover inventory and a marked depreciation of the Pakistani rupee. Last week sources confirmed Engro purchased a 50-55,000 mt DAP cargo from Kailin/Aries for delivery late March/early April, according to market sources. Engro reported that the deal was secured in the low-to-mid-$420s/mt CFR in early February while Aries reports the cargo was secured at $415/mt FOB China also around a month ago, likely reflecting as high as $430-435/mt CFR.