India takes another turn as Q2 phosphoric acid rushes up $203/t

摘要

News that India’s phosphoric acid price for Q2 jumped $203/t higher to $998/t CFR 100% P2O5 has sent shockwaves through the phosphate markets after weeks of twists and turns over India’s expected DAP/NPK Maximum Retail Prices and nutrient-based subsidies. The $203/t increase was also replicated for Q2 contracts in both Europe and Brazil this week while OCP is understood to be targeting $40/t plus increases in its Q2 phosphate rock contracts.