Phosphate Fertilizer Daily Review: MAP Market in Short Supply, DAP Focuses on Export Orders

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data, on May 23:

• The domestic MAP 55% powdered index rose to 3035.00.
• The 55% granular index remained stable at 3080.00.
• The 58% powdered index held firm at 3333.33.

MAP Market Analysis and Forecast:

Today, domestic MAP market prices continued to increase steadily. On the enterprise side, large pending orders and tight spot supply led many companies to stop taking new orders, focusing on fulfilling existing ones. The market maintained a bullish atmosphere, with transaction focus continuing to push higher, keeping the market at elevated levels.

Demand Side:

• Agricultural: The need for summer fertilizer production remains, with ongoing just-in-time procurement.
• Industrial: Downstream compound fertilizer factories maintain just-in-time procurement of raw materials.

Raw Material Side:

• Prices for sulfur and phosphate rock are stable with slight adjustments.
• The synthetic ammonia market is weakening, leading to narrow price fluctuations.

Overall: The MAP market is supported by strong demand and large pending orders, keeping prices at high levels. With a supply-demand imbalance, prices are expected to remain stable with minor adjustments in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data, on May 23:

• The domestic mainstream 64% granular DAP index remained stable at 3776.67.
• The 60% brown index held steady at 3450.00.
• The 57% content index was constant at 3387.50.

DAP Market Analysis and Forecast:

Today, domestic DAP market prices remained stable. Enterprises are primarily focused on executing export orders, which can last until next month. The industry's operating rates are relatively high, and quotes remain firm with no adjustments.

Market Side:

• International prices are firm, with most companies executing export shipments.
• Domestic just-in-time demand follow-up is limited, and market sentiment remains cautious.

Demand Side:

• The demand for corn fertilizer is nearing its end, with limited just-in-time orders, resulting in a steady but weak domestic market.

Raw Material Side:

• Prices for sulfur and phosphate rock remain firm.
• Synthetic ammonia market prices are stable to slightly declining, leading to a high but slightly downward adjustment in costs.

Overall: The DAP market is primarily focused on exports, with limited domestic demand. The market remains firm, but domestic prices are expected to continue weak consolidation in the short term.