US DAP barges firm-MissPhos switches back to DAP;cfr levels in Latin America fall further

摘要

The US domestic market apart,the phosphates sector remains weak.Cfr levels for DAP and MAP in Latin America dipped below$500/t cfr as traders partly shorted the market and liquidated floaters.East of Suez,Indian DAP MoUs are now variously estimated at 1.2m t but not a tonne has been priced as yet and the significance of this figure is questionable as MoUs do not always historically become reality.Q2 phosphoric acid negotiations have seen OCP offer at$750/t P2O5 cfr,equivalent to$525/t cfr for DAP, which is high basis the current NBS for DAP which has been rolled over,although the Rupee is firm.