DAP/MAP prices steady entering May

摘要

DAP/MAP prices were largely flat across most markets this week with further DAP purchases in India, downward seasonal pressure on European DAP prices and some upward momentum on Brazilian MAP prices. Indian DAP prices rose slightly to $426-429/mt CFR this week. NFL is understood to have now awarded a tender to Aries/Kailin at around $428.50/mt CFR while Ma'aden reports another 40,000 mt DAP cargo to India in the low $430s/mt CFR for May delivery. The Ma'aden deal is likely to include credit, reflecting around $429/mt CFR.