Daily Phosphate Fertilizer Review: Limited Follow-up Demand, Market Remains Weak

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data, as of April 22, the domestic 55% powdered MAP index stood at 2906.25, stable; the 55% granular index at 3050.00, stable; and the 58% powdered index at 3266.67, stable.

MAP Market Analysis and Forecast:

Today, domestic MAP market prices remained stable. On the corporate side, new orders were limited, the industry's capacity utilization continued to decline, and most companies continued to implement minimum guarantee policies, with no significant changes in quotes, and actual transactions being negotiated on a case-by-case basis. In the market, it is currently the off-season for sales, with purchasing following a weak consolidation pattern, and the market outlook unlikely to improve in the short term. On the demand side, under the influence of the off-season, downstream purchases mostly followed the bare minimum needed, with just-in-time purchasing being predominant. Regarding raw materials, prices for sulfur and phosphate rock continued to hold high, while the price of synthetic ammonia remained weakly downward, with raw material prices maintaining narrow fluctuations. Overall, the current MAP market is in a weak state, with limited and ineffective follow-up demand, making it difficult for companies to secure orders. Market prices and corporate quotes continue to be inverted, and it is expected that MAP market prices will continue to consolidate weakly in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data, as of April 22, the domestic mainstream 64% granular DAP index was 3835.00, stable; the 60% brown index was 3450.00, stable; and the 57% content index was 3465.00, stable.

DAP Market Analysis and Forecast:

Today, domestic DAP market prices continue to remain stable. On the corporate side, there was limited follow-up on orders, with many focusing on executing export and some domestic orders, prices remained stable, and transactions were negotiated on a case-by-case basis, with discussions predominating. Currently, operations are maintained at a high level, but there is an expectation of maintenance in some units by the end of the month, leading to a decline in operations and a decrease in daily industry production. In the market, domestic demand was insufficient, international prices continued to slide, and the market followed up weakly, with conditions tending downward. On the demand side, as the spring planting market nears its end, downstream purchases are mostly just the bare essentials, with weak operational demand. Regarding raw materials, prices for sulfur and phosphate rock were steady, while synthetic ammonia prices continued to trend weakly downward, with raw material prices fluctuating within a range. Overall, the current DAP market appears weak, with both domestic and international follow-ups reduced compared to earlier periods, a subdued purchasing atmosphere, and an expectation of reduced operations. DAP market prices are expected to continue to consolidate weakly in the short term.