Domestic and export DAP activity from China is slow this week as suppliers still target $540/t FOB and buyers digest the surge in Q2 phosphoric acid prices. India's IPL is rumoured to have purchased one 50,000 t DAP cargo from Koch ex-China, rumoured to be from Xingfa, at $561-563/t CFR with 180 days credit. IPL is also linked to another 45-50,000 t DAP cargo direct from China’s Yihua at $564-565/t CFR with 180 days credit. Both cargoes are for H2 May/H1 June arrival and likely netback no higher than $535/t FOB China.
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