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Producers in North Africa say that the target price for DAP is $560/mt FOB, and that monoammonium phosphate is $20/t higher than this, and this price has already been traded, but it has not announced specific transactions. At present, Morocco has signed a 100,000-ton contract with Europe and it is reported that it has signed similar amounts with the United States. Judging from the strong spot demand in the current European market, OCP in October estimates that there will be 100,000 tons of supplies available.
The GCT in Tunisia has a good sales situation. In October, there are limited products available for sale. It is planned to ship a ship to the United States. The estimated price is comparable to that of the OCP, which is basically $560-565/mt FOB. The Turkish Bagfas export quotation is $570-580/mt FOB. JPMC has signed 250,000 tons of DAP with Ethiopia through AISE, making the sales pressure before the first quarter of 2011 not heavy. The transaction price is $588-600/mt CFRLO, equivalent to the FOB price of $530-540/mt FOB.
China's domestic market demand is still strong. At present, the arrival price in the domestic market is 2950-300 yuan/ton, and the export quotation is $500/mt FOB. On October 16th, the 7% tariff in the off-season will be implemented again.
International diammonium phosphate market continues to rise
Due to strong global market demand, the rising trend of DAP is hard to contain. With the arrival of the once-a-year off-season shipping system for the upper reaches of the Mississippi River in the United States, U.S. buyers expect that prices in the U.S. freight market will be adjusted downwards in November-December, and producers will lock in sales in the spring market. Recently, the price of diammonium in the United States is basically equivalent to the international market, and producers will begin to pay attention to international trade. End-users also want producers to position prices at levels that are roughly equivalent to those of China, the Soviet Union, and North Africa. However, it is obvious that the supply of monoammonium phosphate in the United States is insufficient and demand remains tight.