Market players seek price direction in fourth quarter

摘要

Demand for finished phosphate products is rapidly diminishing as trading moves into the last quarter of the year. Market sentiment is described as bearish, with prices clearly showing signs of softness following recent sales into Pakistan and Argentina. News this week of another swift contract settlement for Q4 phosphoric acid contract business in India with traditional suppliers adds further bearishness to the international market, as Indian domestic DAP production is set to continue to operate at healthy utilisation rates and therefore reducing the need for imported DAP. This is mainly attributed to a regular flow of feedstock phosphoric acid shipments from OCP/Morocco, GCT/Tunisia and Foskor/South Africa. OCP's price has been agreed $5/mt lower at $525/mt P2O5 but for October shipment only. GCT/Foskor's new price at $532.50/mt P2O5 applies for October-December shipment which compares with the Q3 price at $508/mt P2O5 CFR.