India: DAP buyers out of the market

摘要

Indian DAP buyers are largely out of the market due to a seasonal slowdown in domestic demand and the recent surge in DAP offers. The stalemate has meant Indian DAP stocks have now dropped to 2.4-2.5 Mt from 4.0 Mt this time last year. Some bids are reported around $420-425/t CFR while most offers are no lower than $460/t CFR although there are still indications of availability from Saudi Arabia at $435-440/t CFR.