Brazilian prices fall as long positions are liquidated

摘要

The Brazilian market is in disarray with a wide range of prices being reported. There is no new demand however so real numbers remain elusive. Floaters carrying Chinese product, all grades, continue to limit any interest in new business. Reports of at least two Russian cargoes unsold only serve to compound the situation. Sales of MAP 11-52-0 have been reported as low as $475/mt CFR this week with even lower prices cited at the end of last week.