Phosphate Fertilizer Daily Review, June 30: Sulfur Holds at High Levels, Phosphate Fertilizer Remains Firm

Monoammonium Phosphate Price Index

According to FDD data, on June 30, the domestic 55% powder monoammonium phosphate (MAP) index stood at 4,435.00, flat from the previous working day. The 55% granular MAP index stood at 4,450.00, flat from the previous working day. The 58% powder MAP index stood at 4,710.00, flat from the previous working day.

Monoammonium Phosphate Market Analysis and Forecast

The domestic monoammonium phosphate market remained stable today.

On the supply side, most producers were still executing earlier orders, with no significant changes in market prices. Raw material prices remained elevated, traders maintained firm sentiment, and actual transactions were negotiated on a case-by-case basis.

In the market, sellers remained firm but constrained, buyers were cautious and wait-and-see, and traders were reluctant to sell while waiting for further price increases.

On the demand side, the market is currently in the transition period between the end of summer fertilizer demand and the start of autumn fertilizer preparation. End-user fertilizer demand remained weak. Downstream compound fertilizer plants continued to operate at low rates. Some producers had already completed partial raw material restocking earlier, showing limited willingness to purchase at high prices, while actual procurement remained mainly small-volume and need-based.

On the raw material side, sulfur prices fluctuated slightly higher at high levels today, while port inventories remained low, providing continued price support. Sulfuric acid prices fluctuated at high levels, and phosphate rock prices remained firm at elevated levels. Cost pressure continued to increase, and producers showed a strong willingness to hold prices firm.

Overall, supported by costs and tight supply, the MAP market is expected to remain firm in the short term. Going forward, attention should be paid to raw material price trends, the start of autumn fertilizer preparation by downstream compound fertilizer producers, and the transmission of sulfur market movements to the cost side after the signing of the U.S.-Iran agreement.

Diammonium Phosphate Price Index

According to FDD data, on June 30, the domestic mainstream 64% granular diammonium phosphate (DAP) index stood at 4,571.67, flat from the previous working day. The 60% brown DAP index stood at 4,350.00, flat from the previous working day. The 57% DAP index stood at 4,425.00, flat from the previous working day.

Diammonium Phosphate Market Analysis and Forecast

The domestic diammonium phosphate market continued to run firmly today.

On the supply side, some producers mainly focused on shipping earlier pending orders, while others gradually issued new prices. Price-support sentiment remained strong, and actual transactions continued to be negotiated.

In the market, the wait-and-see atmosphere continued.

On the demand side, the market is currently in the traditional off-season for fertilizer use. Domestic autumn fertilizer preparation has not yet started on a large scale. Most downstream compound fertilizer plants maintained low operating rates, with procurement limited to small volumes for daily rigid demand. Grassroots distributors remained cautious, and transactions were mainly small and scattered, leaving overall trading activity deadlocked and subdued.

On the raw material side, sulfur prices fluctuated slightly higher at high levels today, while port inventories remained low; sulfuric acid prices fluctuated at high levels; phosphate rock prices remained firm at elevated levels, and high raw material costs continued to increase cost pressure, providing strong support to the market.

Overall, the DAP market is expected to continue operating at high levels in the short term. Going forward, attention should be paid to changes in raw material prices, downstream demand follow-up, and subsequent adjustments to export policies.

Sulfur Market Prices

According to FDD data, on June 30, the domestic granular sulfur price at Zhenjiang Port stood at RMB 9,200.00/tonne, up 0.55% from the previous working day. The granular sulfur price at Dafeng Port stood at RMB 9,150.00/tonne, up 0.22% from the previous working day. The powder/block sulfur price at Zhenjiang Port stood at RMB 9,180.00/tonne, up 0.88% from the previous working day. The powder/block sulfur price at Dafeng Port stood at RMB 9,130.00/tonne, up 0.55% from the previous working day. Solid sulfur in East China stood at RMB 9,450.00/tonne, flat from the previous working day, while liquid sulfur in East China stood at RMB 9,017.5/tonne, up 0.87% from the previous working day.

Sulfur Market Analysis and Forecast

The domestic sulfur market showed a regionally divergent but overall firmer pattern today, with geopolitical supply disruptions continuing to provide underlying support. Supply-demand conditions and trading activity varied noticeably across sub-markets.

At ports, imported granular sulfur started the day on a relatively weak note. Holders maintained high asking prices, but end-user inquiries were limited and tentative, and trade circulation remained subdued. Market participants mostly stayed on the sidelines and were unwilling to actively concede on prices. In the afternoon, a small number of terminal inquiries emerged, and some transactions were concluded among traders. Prices moved higher in line with the earlier upward trend, and there was no clear bearish guidance. Market participants generally followed the prevailing trend.

In domestic production areas, market performance diverged. Shandong liquid sulfur continued to strengthen, with local refinery auctions clearing at premiums. As downstream plants gradually restarted, rigid demand increased, and purchasing enthusiasm improved, driving the liquid sulfur market higher. At the same time, inventories in the region remained low, shipment pace was stable, and there was no inventory buildup pressure. Supply and demand both supported further gains in liquid sulfur prices.

The demand-side support logic remained clear. Some downstream producers have gradually resumed operations, and with more restarts expected later, market demand has room to increase steadily. Downstream willingness to stock up improved, further boosting spot trading activity. On the supply side, the market remained tight overall. Geopolitical uncertainty overseas has not yet been fully resolved, import replenishment remains constrained, and inventories at ports and in producing regions are not expected to recover significantly. Holders remain confident in raising prices, while low-price selling willingness remains weak.

Looking ahead, the sulfur market is expected to maintain a high-level volatile trend with a slight upward bias in the short term. The market currently lacks major bearish news, and fundamental support from tight supply and improving downstream demand remains intact, leaving room for prices to move higher across regions. However, wait-and-see sentiment is still present. Without concentrated large-volume procurement or a major increase in vessel arrivals, the market is unlikely to see a sharp one-sided move. The short-term pattern is expected to remain a high-level range consolidation. Going forward, attention should remain on afternoon liquid sulfur transactions, port cargo trading dynamics, and changes in overseas shipping and geopolitical news to gauge further price potential.

Phosphate Fertilizer Market Updates

June 30: In the Anhui MAP market, 55% powder MAP was quoted at around RMB 4,530-4,550/tonne delivered, with offers stable.

June 30: In the Northeast China MAP market, 55% powder MAP was quoted at around RMB 4,250/tonne delivered, with offers stable.

June 30: In the Henan MAP market, 55% powder MAP was quoted at around RMB 4,530-4,550/tonne delivered, with offers stable.

June 30: In the Hubei MAP market, mainstream 55% powder MAP ex-factory prices were quoted at around RMB 4,200-4,450/tonne, with offers stable.

June 30: In the Jiangsu MAP market, 55% powder MAP was quoted at around RMB 4,520-4,500/tonne delivered, with offers stable.

June 30: In the Shandong MAP market, 55% powder MAP was quoted at around RMB 4,530-4,500/tonne delivered, with offers stable.

June 30: In the Sichuan MAP market, 55% powder MAP was quoted at around RMB 4,300-4,350/tonne delivered, with offers stable.

June 30: In the Yunnan MAP market, 55% powder MAP ex-factory prices were quoted at around RMB 4,250-4,300/tonne, with offers stable.

June 30: In Shaanxi, 60% DAP ex-factory self-pickup prices were quoted at RMB 4,300-4,350/tonne, with offers stable.

June 30: In Northeast China, 64% DAP ex-factory self-pickup prices were quoted at RMB 4,550-4,600/tonne, with offers stable.

June 30: In Hebei, 57% DAP self-pickup prices were quoted at RMB 4,400-4,500/tonne, with offers stable.

June 30: In Hubei, 64% DAP ex-factory self-pickup prices were quoted at RMB 4,800-4,850/tonne, with offers stable.

June 30: In Shandong, 64% DAP ex-warehouse self-pickup prices were quoted at RMB 4,900-4,980/tonne, with offers stable. 57% DAP self-pickup prices at railway platforms were quoted at RMB 4,400-4,500/tonne, with offers stable.