Phosphate Fertilizer Daily Review: Lackluster Demand Follow-up, Market Continues Weak and Stable Operation

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data calculations: On February 1st, the domestic 55% powder MAP index remained stable at 3100.00; the 55% granular index remained stable at 3250.00; the 58% powder index remained stable at 3383.33.

MAP Market Analysis and Forecast:

Today, the domestic MAP market prices are weakly adjusted. From the enterprise perspective, MAP enterprises faced poor shipments, with inventory pressures continuing to rise, and some factories further reducing prices, with actual orders remaining minimal. Market-wise, the market maintains a sluggish operation, with few transactions, and a continuous appearance of low prices, leading to a predominantly wait-and-see sentiment among operators. On the demand side, downstream purchasing sentiment continues to be cautious, with the Spring Festival approaching, some downstream compound fertilizer enterprises reducing loads or ceasing operations, coupled with gradually limited transportation, leading to a gradual weakening of raw material purchasing intentions, with limited actual orders. Regarding raw materials, sulfur prices have slightly increased, synthetic ammonia prices continue to decline, and phosphate rock prices remain firm, showing weak support from raw materials. Overall, the current MAP market transactions continue to be lackluster, with little change expected before the festival, and MAP market prices are expected to continue weakly adjusting in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data calculations: On February 1st, the domestic mainstream 64% granular DAP index remained stable at 3851.67; the 60% brown index remained stable at 3450.00; the 57% content index remained stable at 3522.50.

DAP Market Analysis and Forecast:

Today, the domestic DAP market prices remain stable. From the enterprise perspective, factory ex-factory quotations remain unchanged, continuing to execute pre-received orders, with a focus on distributing a small amount of earlier stocks. Market-wise, the market performance is tepid, with the pre-festival demand atmosphere still appearing weak, and downstream follow-up virtually halted as the holiday approaches, with the DAP market continuing to weakly adjust. On the demand side, as the Spring Festival approaches, end-user purchasing enthusiasm is lacking, with limited follow-up on industrial and agricultural demand, making it difficult for the demand side to change before the festival. Regarding raw materials, sulfur prices continue to rebound, synthetic ammonia prices decline, and phosphate rock remains firm, providing weak support from raw materials. Overall, with DAP enterprises supported by pending orders, limited new orders follow-up before the festival, and a continued weak sentiment, DAP market prices are expected to continue weakly adjusting in the short term.