Views: 1 Author: Site Editor Publish Time: 2024-07-11 Origin: Site
India bidding failure
Indian importer RCF did not receive any quotation for the purchase of 50000 tons of 20-20-0+13S, and it did not respond to NPK's tender in the earlier. However, a manufacturer sold 25000 tons of 20-20-0+13S to another importer at a price of $360 per ton of CFR recently, without paying taxes; If the tax assessment for this level is between $14-18 per ton, the price conversion will be $378 per ton, including tax. In addition, India's NP/NPK inventory has set a record of 5.5 million tons.
Meanwhile, in other regions, some suppliers have lowered the low-end price of 16-20-0 by $5/ton to $295-310/ton FOB China to facilitate transactions, while the high-end price of 16-16-16 has decreased by $5/ton.
The market factors
1. The Tampa ammonia contract was increased by $15/ton to $415/ton in July.
2. The ammonia import volume of OCP Group has increased to 1 million tons. OCP Group's capacity expansion from January to June this year resulted in a 38% increase in ammonia imports, reaching 1 million tons.
Outlook for 30-60 days: firm
Phosphate prices remain stable, and nitrogen, phosphorus, and potassium supply is limited in the third quarter. In addition, in major markets such as India, the demand for nitrogen, phosphorus, and potassium with high phosphate content will continue.
