Saudi’s Ma’aden sells DAP to Pakistan at $615/t cfr

Saudi Arabian phosphates producer Ma'aden sold 30,000t of DAP to a Pakistani importer at around $615/t cfr for shipment in August.

The price nets back to the low-mid-$600s/t fob Ras Al-Khair.

The buy side has said that the deal has not yet concluded.

Pakistan's DAP stocks fell by over 50,000t at the end of June, the latest NFDC data show. But slow Indian buying allowed Pakistan to secure 110,000-115,000t of DAP last week at $605-610/t cfr from China, Morocco and Australia.

Ma'aden earlier this month sold 25,000t of DAP to Pakistani importer Engro in the low-mid $560s/t cfr, netting back to the high $540s/t fob.

By Adrien Seewald