NCIC Tender Awards
Egypt’s fertiliser producer NCIC has concluded its latest sell tender at sharply higher levels, underscoring the continued strength in phosphate markets.
NCIC is reported to have awarded 10,000 tonnes of DAP at $840/t FOB and 25,000 tonnes of SSP at $375/t FOB. The tender closed on 4 April.
The DAP result marks a $60/t increase from NCIC’s previous confirmed DAP award of $780/t FOB in early March. SSP has also moved up strongly, rising by around $40/t from the producer’s previous sale at $335/t FOB in mid-March.
The latest outcome confirms that Egyptian phosphate export values continue to reprice higher, with DAP now firmly into the $840s/t FOB and SSP also posting another significant gain within a short period.
AFRIQOM take
This is another clear sign that phosphate sellers remain in control of the market. The NCIC award reinforces the strength of the current uptrend and shows that buyers are still having to follow higher replacement values and accepting them. The SSP result is also notable, as it suggests firmness is no longer limited to premium phosphate products alone.
In short, Egypt’s latest tender adds to evidence that phosphate markets remain decisively bullish, with little sign yet of pricing pressure easing.
AFRIQOM Market Reporter
