Phosphate Fertilizer Daily Review: Enterprise Deliveries Support Stable Prices

June 12, 2024, 9:21 AM

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Highlights at a glance

The monoammonium phosphate (MAP) and diammonium phosphate (DAP) markets in China remained stable on September 21, according to Feidoodoo data. MAP prices held firm across powder and granular grades, with the 55% powder index at 3,092.86, 55% granule at 2,820, and 58% powder at 3,316.67. Manufacturers are focused on fulfilling prior orders, with limited new demand and suspended quotations. High raw material costs, particularly from strong phosphate rock prices, support current levels despite weak domestic demand. Farmers are making only small, on-demand purchases, and traders remain cautious, contributing to a generally sluggish market atmosphere. Similarly, DAP prices were unchanged, with the 64% granule index at 3,774, 60% brown at 3,320, and 57% content at 3,412.5. Supply remains tight as producers prioritize existing order deliveries into mid-October. While domestic sentiment is tepid, robust international demand and favorable export prices provide underlying support. Overall, both

Monoammonium Phosphate Price Index:

According to Feidoodoo data, on September 21, the domestic monoammonium phosphate 55% powder index was 3092.86, stable; 55% granule index was 2820, stable; 58% powder index was 3316.67, stable.

Monoammonium Phosphate Market Analysis and Forecast:

Today, the domestic monoammonium phosphate market price remains stable. On the enterprise side, companies are executing pre-received orders to be delivered, pausing quotations, with some lasting until the end of this month, and new orders are still scarce. In terms of cost, the recent price of raw material phosphate rock is running strong and stable, with a slight increase, and the cost remains high. In terms of demand, the market demand is weak, the downstream autumn fertilizer market continues to maintain a small amount of on-demand replenishment, traders' purchases are rational, and the overall market continues to wait and see. Overall, the monoammonium phosphate market atmosphere remains dull, and it is expected that the monoammonium phosphate market price will remain firm in the short term.

Diammonium Phosphate Price Index:

According to Feidoodoo data, on September 21, the domestic mainstream diammonium phosphate 64% granule index was 3774, stable; 60% brown index was 3320, stable; 57% content index was 3412.5, stable.

Diammonium Phosphate Market Analysis and Forecast:

Today, the domestic diammonium phosphate market price continues to run stable. On the enterprise side, companies continue to ship pre-received orders, with ample deliveries lasting until mid-next month, and the current market supply is tight, with no changes in company quotations. In terms of demand, downstream traders are cautious, purchasing enthusiasm is dull, and the trading atmosphere is general. In terms of exports, the current international demand is performing well, with high export prices. Overall, the diammonium phosphate market can be supported by enterprise deliveries in the short term, and it is expected that the diammonium phosphate market price will remain stable.

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