IFA '08: GCT yet to show hand on June DAP price

21 May 2008 13:53  [Source: ICIS news]

VIENNA (ICIS news)--Tunisian phosphate producer Groupe Chimique Tunisien (GCT) is yet to reveal its diammonium phosphate (DAP) price to European traders for June shipments, traders confirmed on Wednesday.

 

The company was likely to announce it next week following an internal meeting to discuss market allocations, said traders speaking on the sidelines of the 76th International Fertilizer Industry Association (IFA) conference,

 

However, European traders were not hopeful they could pass on likely higher price intentions from the Tunisians into the European arena.

 

The European market, currently out of season, was reported to have experienced a fall in demand, traders said as a result of higher prices. 

 

“Germany has 25% of its yearly needs currently in stock,” said one trader.

 

“Offtake has not been as good as expected,” the trader added.

 

“I told them, maybe at $1,200/tonne FOB (free on board) for DAP, and $1,035/tonne for triple super phosphate [TSP] then we could do something,” said another trader.

 

These prices would essentially be unchanged from May levels.

 

The IFA conference takes place in Vienna from 19-21 May.

 

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Author: Mike Nash
+44 20 8652 3214

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