Initial signs of stability in some DAP markets

摘要

While key DAP markets east of Suez report little demand and continue to see price reductions, the beginning of 2016 has seen some indications of stability and even a possible recovery in DAP prices for Europe and the US. Exceptionally high DAP stocks in India remain and importers continue to struggle to sell on the product. Consequently there is no interest in spot buying outside of contracted MoUs and most expect limited import activity through Q1 even if prices are substantially lower. Aries/Kailin are sending a 25,000 mt DAP cargo to Chambal under an MoU which is rumoured to have been sold in the low $400s/mt CFR, reducing the DAP range for India.