Oversupply and a collapse in demand led to a near $10/mt decline in Indian subcontinent DAP import prices this week, while prices in Latin America and Europe also saw declines. Three new DAP deals to Pakistan and one DAP sale to India were reported this week from traders offering product from China and Australia in the 310-320/mt CFR range. Many traders argue that DAP prices below $305/mt FOB China and $300/mt FOB Australia have yet to be achieved but most expect that DAP will soon be secured from both markets in the mid-to-high $290s/mt FOB.
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