US DAP gains $25/tonne on week to $1,225/t high

24 April 2008 16:53  [Source: ICIS news]

LONDON (ICIS news)--US producers have seen diammonium phosphate (DAP) prices increase by a further $25/tonne (€16/tonne) this week on tight supply and emerging Latin American demand, producers and traders confirmed on Thursday.

A further 7,000 tonnes of US DAP was sold by a trader at $1,220/tonne FOB, plus 15,000 tonnes at $1,225/tonne FOB for May shipment to Latin America.

The Phosphate Chemicals Export Association (PhosChem) sold 24,000 tonnes of DAP to Central America and Mexico at $1,215/tonne FOB (free on board) earlier in the week.

Prices were assessed at $1,200/tonne FOB Tampa last week.

The global DAP market remains tight due to limited supply with an effective export ban on Chinese product, plus strong demand in India. Significant interest was also expected to emerge in key markets such as Brazil and Turkey in May and June.

($1 = €0.63)

By: Mike Nash
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly