Phosphate Fertilizer Daily Review, July 6: Cost and Demand Continue to Compete, Market Consolidates at High Levels

Monoammonium Phosphate Price Index

According to FDD data, on July 6, the domestic monoammonium phosphate 55% powder index stood at 4,435.00, flat from the previous working day; the 55% granular index stood at 4,450.00, flat from the previous working day; and the 58% powder index stood at 4,710.00, flat from the previous working day.

Monoammonium Phosphate Market Analysis and Forecast

Today, the domestic monoammonium phosphate market remained stable. On the enterprise side, most plants were still executing previous orders, with no significant changes in market prices. Raw material prices remained high, traders maintained a firm mindset, and actual transactions were negotiated on a case-by-case basis.

On the market side, current sentiment is characterized by sellers remaining firm but constrained, buyers staying cautious and watchful, and traders holding goods while waiting for further price increases.

On the demand side, downstream compound fertilizer plants are currently operating at low loads. Some enterprises have already completed part of their raw material procurement, and willingness to purchase at high prices remains weak. Actual procurement is mainly limited to small-volume need-based purchases, with sentiment relatively cautious.

On the raw material side, sulfur prices fluctuated at high levels today with divergent trends, while port inventories remained low. Sulfuric acid prices fluctuated at high levels, and phosphate rock prices remained firm at high levels. Cost-side pressure continued to increase, and enterprises maintained a strong willingness to hold prices firm.

Overall, supported by costs and a relatively tight supply pattern, the monoammonium phosphate market is expected to remain stable at high levels in the short term. Going forward, attention should be paid to raw material price trends, the pace of downstream compound fertilizer autumn preparation, and the impact of sulfur market movements on cost transmission following the signing of the U.S.-Iran agreement.

Diammonium Phosphate Price Index

According to FDD data, on July 6, the domestic mainstream diammonium phosphate 64% granular index stood at 4,571.67, flat from the previous working day; the 60% brown index stood at 4,350.00, flat from the previous working day; and the 57% content index stood at 4,432.50, flat from the previous working day.

Diammonium Phosphate Market Analysis and Forecast

Today, the domestic diammonium phosphate market continued to operate quietly at high levels. On the enterprise side, some producers mainly focused on shipping previous pending orders, with no significant changes in prices. Market sentiment toward holding prices firm remained strong, and actual transactions continued to be negotiated.

On the market side, the wait-and-see atmosphere persisted.

On the demand side, demand remains in the traditional fertilizer-use gap period, and domestic autumn sowing preparation has not yet started on a concentrated basis. Downstream compound fertilizer plants are mostly operating at low rates, with procurement limited to small-volume daily rigid-demand replenishment. Grassroots distributors remain strongly wait-and-see, and overall trading activity is stagnant and relatively muted.

On the raw material side, sulfur prices consolidated weakly at high levels today, with divergent trends, while port inventories remained low. Sulfuric acid prices fluctuated at high levels, and phosphate rock prices remained firm at high levels. High raw material prices continued to increase cost pressure, providing strong support to the market.

Overall, the diammonium phosphate market is expected to continue high-level consolidation in the short term. Going forward, attention should be paid to raw material price changes, downstream demand follow-up, and later export policy adjustments.

Sulfur Market Prices

According to FDD data, on July 6, the domestic Zhenjiang Port granular sulfur price stood at 8,800.00, down 0.56% from the previous working day; Dafeng Port granular sulfur stood at 8,780.00, down 0.57%; Zhenjiang Port powder/block sulfur stood at 8,750.00, down 0.57%; Dafeng Port powder/block sulfur stood at 8,730.00, down 0.57%; East China solid sulfur stood at 9,250.00, flat from the previous working day; and East China liquid sulfur stood at 8,960.00, down 1.32%.

Sulfur Market Analysis and Forecast

Today, regional divergence in the domestic sulfur market was prominent. Trends differed significantly across product categories and producing regions, long-short competition intensified, and overall trading activity was uneven.

Imported granular sulfur at ports remained weak. Offers from sellers continued to move lower, wait-and-see sentiment in circulation was strong, and the market lacked proactive buying demand. Spot transactions were generally light, with most participants waiting for a more suitable procurement window, leaving market circulation slow.

Domestic solid sulfur showed regional contrast. Factory shipments in Northwest China improved notably, goods circulated smoothly, and regional quotations rose accordingly. Spot acceptance improved compared with the previous period. Overall, the price spread among domestic solid sulfur regions widened, and transaction centers adjusted flexibly according to regional supply-demand changes. In the afternoon, market attention focused on the completion of liquid sulfur and port cargo transactions to judge the actual strength of daily demand.

Shandong liquid sulfur quickly shifted from its previous strong rally to weakness. Local refinery auction transactions cooled sharply, with very few deals concluded. After the previous sustained price increases, high prices triggered strong downstream resistance. Combined with a simultaneous increase in local liquid sulfur supply, downstream purchasing sentiment became cautious, auction sentiment continued to weaken, and the regional liquid sulfur price center fell noticeably.

In Northeast China, liquid sulfur prices remained stable, with minimal price fluctuations and relatively balanced supply and demand.

Overall, low port inventories and high overseas prices will still provide some support to the market in the short term. However, the rapid cooling in Shandong reflects downstream resistance to high prices, and the market’s momentum to chase higher prices is clearly insufficient. As imported cargoes are gradually replenished, supply-side pressure is expected to ease. Against the backdrop of weak terminal demand follow-up and expanding losses among downstream enterprises, the sulfur market faces significant upward resistance. The market is expected to maintain high-level volatile consolidation in the short term, with key attention on the pace of imported cargo arrivals and changes in downstream operating rates.

Phosphate Fertilizer Market Updates

July 6: In the Anhui MAP market, 55% powder was quoted at around RMB 4,530-4,550/tonne delivered, with quotations stable.

July 6: In the Northeast MAP market, 55% powder was quoted at around RMB 4,250-4,250/tonne delivered, with quotations stable.

July 6: In the Henan MAP market, 55% powder was quoted at around RMB 4,530-4,550/tonne delivered, with quotations stable.

July 6: In the Hubei MAP market, mainstream ex-factory prices for 55% powder were around RMB 4,200-4,450/tonne, with quotations stable.

July 6: In the Jiangsu MAP market, 55% powder was quoted at around RMB 4,520-4,500/tonne delivered, with quotations stable.

July 6: In the Shandong MAP market, delivered quotations for 55% powder were around RMB 4,530-4,500/tonne, with quotations stable.

July 6: In the Sichuan MAP market, delivered quotations for 55% powder were around RMB 4,300-4,350/tonne, with quotations stable.

July 6: In the Yunnan MAP market, ex-factory prices for 55% powder were around RMB 4,250-4,300/tonne, with quotations stable.

July 6: In Shaanxi, 60% DAP self-pickup ex-factory quotations were RMB 4,300-4,350/tonne, with quotations stable.

July 6: In Northeast China, 64% DAP self-pickup ex-factory quotations were RMB 4,550-4,600/tonne, with quotations stable.

July 6: In Hebei, 57% DAP self-pickup quotations were RMB 4,420-4,500/tonne, with quotations stable.

July 6: In Hubei, 64% DAP self-pickup ex-factory quotations were RMB 4,800-4,850/tonne, with quotations stable.

July 6: In Shandong, 64% DAP self-pickup ex-warehouse quotations were RMB 4,900-4,980/tonne, with quotations stable; 57% self-pickup station quotations were RMB 4,450-4,500/tonne, with quotations stable.