Phosphate market summary
Brazilian cfr MAP values slip further A general sense of a market running out of steam pervades the phosphates industry this week.
The most telling physical indication has been the sale of Russian MAP at $445-450/t cfr for December shipment, down $5/t on last week.
This is pressuring DAP fob levels out of China towards $400/t in terms of bids.
With cfr values slipping, Fauji Pakistan remains in negotiation with traders over its 45,000t purchase tender.
But Algeria historically has suffered from foreign investment issues.
The Indian subcontinent is largely devoid of DAP demand with only NFL in the market for December loading.
