Phosphate Fertilizer Daily Review: Limited New Orders Before the Festival, Difficult to See an Improvement in the Lackluster Market

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data calculations: On January 31st, 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 factories are facing increased sales pressure, lack of direction for goods, and lackluster new order transactions, with actual deals continuing to be negotiated. Market-wise, the market maintains weak operations, with some logistics ceasing operations as the Spring Festival holiday approaches, leading to a tepid overall transaction atmosphere. On the demand side, the wait-and-see sentiment among downstream is strong, compound fertilizer companies are struggling with product shipments, inventories continue to increase, and device operation rates are further reduced, weakening the enthusiasm for raw material purchases. Regarding raw materials, sulfur prices have rebounded, synthetic ammonia prices have declined, and phosphate rock continues to be firm, providing weak support from raw materials. Overall, the current MAP market is characterized by lackluster demand and a strong wait-and-see sentiment among operators, with little change expected before the festival. The MAP market prices are expected to continue weakly adjusting in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data calculations: On January 31st, 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, companies continue to execute pending orders, with some pre-received until early March, with sufficient pending orders, current factory ex-factory prices remain unchanged, and operation rates remain stable compared to earlier periods. Market-wise, the market operates tepidly, with average shipments, and little change expected before the festival. On the demand side, as the Spring Festival holiday approaches, the downstream purchasing atmosphere becomes increasingly muted, with a strong wait-and-see sentiment, leading to tepid raw material demand. Regarding raw materials, sulfur prices have rebounded, synthetic ammonia prices have declined, and phosphate rock continues to be firm, providing weak support from raw materials. Overall, DAP companies have sufficient pre-received pending orders from earlier periods, currently focusing on the shipment of pre-received orders. With little change expected in downstream follow-up before the festival, DAP market prices are expected to continue weakly adjusting in the short term.