Steady demand continues east of Suez

摘要

On the whole, the market remains depressed with steady demand from India and Asia continuing to provide some support to the global market but downwards price pressure is felt in all regions. For now, prices are just about holding. The only demand of note is limited to the east. Asian buyers continue to fix contract cargoes through to September with reports of at least 50,000t of spot demand in the region for September. But this is still not deemed enough to spark a rebound in pricing. In India, PPL reports to have purchased 20,000t at $325/t cfr under its recent tender, with the supplier understood to be CIFC. Indian demand overall is okay but downwards price pressure is being placed due to the recent reduction in domestic DAP prices.