Morocco: DAP price declines on sales to Pakistan

摘要

OCP has secured at least 400,000 t of granular phosphate deals for October shipment, with a further 250- 300,000 t still under discussion, according to market sources. The current OCP shipment schedule for October includes: 1. 120-130,000 t DAP/MAP/TSP to the US market under formula prices. Latest spot prices for barges at New Orleans would likely netback to Morocco at around $450/t FOB for DAP and as high as $460/t FOB for MAP. 2. 70-75,000 t MAP/NPS/TSP to Brazil with latest MAP volumes sold flat on September prices at $455- 458/t CFR, or roughly $440/t FOB, latest NPS 12-46-0-7 at $450-453/t CFR and latest TSP at around $375/t CFR. Another 60,000 t MAP remains under discussion with Brazil for October shipment. 3. 105,000 t DAP/MAP/TSP to European markets, with latest DAP sales to Spain and France as high as $455-458/t FOB and latest TSP sales to Benelux at $360/t FOB Morocco. 4. 50-100,000 t DAP sold to Pakistan (likely to PakArab) at $435/t CFR, reflecting around $407/t FOB. 5. 30-230,000 t DAP/MAP/NPK/NPS sales to African markets, including 30,000 t DAP/MAP already sold to Mali at roughly $435/t FOB, likely around 100,000 t NPS to Ethiopia under last week’s EABC tender (although this has yet to be confirmed) and 70-100,000 t NPK under discussion for West Africa. 6. 30,000 t TSP to Bangladesh under formula prices.