Phosphate Fertilizer Daily Review: General Market Demand Follow-Up, Phosphate Fertilizer Prices Mostly Stable with Adjustments

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data, as of November 27, the domestic 55% powder form MAP index is 3493.75, showing a decline; the 55% granular index is stable at 3400.00; the 58% powder form index is steady at 3683.33.

MAP Market Analysis and Forecast:

Today, domestic MAP market prices saw a slight downward adjustment. From the factory perspective, with some pending orders still in place, the prices remained stable under this support. Currently, the new order transaction atmosphere in the market has turned tepid, with prices showing a narrow range of relaxation, and a divergence between traders and factory prices. On the supply side, the operating rate has slightly decreased, with a marginal reduction in plant output, but the overall operating rate still maintains a high level. On the demand side, under the support of the supply and price stabilization policy, market shipments are average, with downstream purchasing enthusiasm slowing down and low new order transactions. Regarding raw materials, sulfur and phosphate rock prices remain stable, while synthetic ammonia prices have slightly decreased. The tight supply situation of phosphate rock continues, providing short-term support to MAP prices. Overall, the large volume of pending orders at MAP factories remains a key factor supporting high price levels, and it is expected that the MAP market prices will mostly remain in a stalemate in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data, as of November 27, the domestic mainstream 64% granular DAP index is stable at 3880.00; the 60% brown index is steady at 3670.00; the 57% content index is stable at 3610.00.

DAP Market Analysis and Forecast:

Today, domestic DAP market prices maintained high levels with adjustments. On the enterprise side, companies continue to execute previously received orders, with internal sales mostly pausing in collections, and pending orders continuing to provide support. On the supply side, market arrivals are limited, with many waiting for mainstream enterprise buyout collection prices. On the demand side, the winter storage market still has significant needs, with a large demand volume and a continued tight supply situation in the short term. In the market, downstream inquiries are mostly for lower prices, with actual purchasing mostly on hold, and current market purchasing enthusiasm relatively low. Regarding raw materials, sulfur and phosphate rock prices remain stable, while synthetic ammonia prices have slightly decreased. The tight supply situation of phosphate rock continues, providing short-term support to MAP prices. Overall, with low downstream purchasing intention and limited supply of DAP in the current market, it is expected that DAP prices will continue to undergo adjustments in the short term.