Daily Phosphate Fertilizer Review: Market Trading Atmosphere Flat, Prices Continue to Weaken

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data, on April 28, the domestic 55% powdered MAP index was 2881.25, stable; the 55% granular index was 3050.00, stable; and the 58% powdered index was 3250.00, showing a decline.

MAP Market Analysis and Forecast:

Today, the domestic MAP market prices experienced a slight decline amidst overall stability. Enterprises continued to dispatch pending orders without significant changes in quotations, some continued to implement minimum guarantee policies, and transactions were negotiated on a case-by-case basis, leading to a reduction in shipments and a continued contraction in industry supply. The market maintained a stable yet flat operation, with a general trading atmosphere and a depressed sentiment among traders, stabilizing the situation primarily. On the demand side, the spring planting market's needs have largely concluded for this phase, with only minimal essential follow-ups for summer corn fertilizer; downstream industrial factories are replenishing inventories as needed. In terms of raw materials, the markets for sulfur and phosphate rock were flat with stable prices, while the synthetic ammonia market improved, pushing prices up. Overall, the MAP market is expected to operate flatly in the short term, with production adjusted to sales and a reduction in supply, expecting prices to continue adjusting downwards slightly.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data, on April 28, the domestic 64% granular DAP index was 3831.67, 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 held steady. Enterprises are processing both domestic and export pending orders, with factory prices remaining stable. Currently, the supply of 64% granular goods is tight, and some manufacturers are reluctant to sell, gradually adopting a hoarding mentality. The market still receives some support from exports, but the overall domestic trading atmosphere remains ordinary without signs of improvement, and the market situation is expected to continue in the short term. Demand-wise, the spring planting market's restocking is essentially complete, and the start-up of demand for summer corn fertilizer is slow, with only minimal essential follow-ups in some regions and average domestic order replenishments. On the raw material front, prices for sulfur and phosphate rock are stable with no fluctuations, and synthetic ammonia prices have rebounded, providing high-cost support. Overall, domestic DAP market demand follow-up is flat, with some positive factors in export orders and limited supply keeping price declines minimal, expecting DAP market prices to remain weakly stable in the short term.