AEV 6.67% 1.4¢ avenira limited

dap to 1000 bucks a tonne : p market very tite

  1. 13,126 Posts.
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    From the latest weekly report:

    The DAP market is in overdrive, fuelled by news of an effective export ban imposed by the
    Chinese government. There is also strong demand emerging in India, Iran, Vietnam,
    Australia, Eastern Europe and Latin America, plus demand for summer/autumn fill in the
    US domestic market.
    This has seen export prices in Tampa rise to $900/tonne FOB while North African DAP
    sold at up to $920/tonne FOB. Latest offers of Korean DAP into Vietnam already exceed
    $1,000/tonne CFR.

    Availability of Chinese phosphates for export will be virtually non-existent in March and
    April as the government prioritises rail shipments to the north of the country. In March-
    April 2007, China exported nearly 370,000 tonnes of DAP/MAP.
    Production is also reduced globally. In China, output is still seriously affected by a lack of
    power which is also reported to have hit rock output. Russian and Lithuanian producers
    have seen production fall due to delays in feedstock deliveries and technical problems.
    Phosphoric acid production in North Africa has been hampered since the start of 2008.
    A flurry of Indian DAP tenders totalling perhaps 1m tonnes highlights the strength of
    demand, but there is considerable doubt in the market as to who will offer. Russian
    producers are unwilling to offer for April shipment when prices are rising so fast. Nor is
    Lithuanian product being offered for March/April and it may be that Indian buyers will
    negotiate privately rather than buy through the tender process. OCP Morocco is similarly
    adopting a wait-and-see strategy, with no need to chase business with commitments
    through to mid-March.
    Phosphoric acid prices have firmed this week, with reports of Tunisian acid sold at
    $1,700/tonne FOB to Europe. Indications to Indian buyers have firmed to $1,860-
    1,900/tonne CFR.
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Buyers (Bids)

No. Vol. Price($)
3 370119 1.4¢

Sellers (Offers)

Price($) Vol. No.
1.6¢ 200000 1
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