Phosphate Fertilizer Daily Review: Market Demand is Weak, Prices are Adjusting

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo Data calculations, on September 18th, the domestic MAP 55% powder index was 3092.86, showing an increase; the 55% granule index was 2820, stable; and the 58% powder index was 3316.67, stable.

MAP Market Analysis and Forecast:

Today, the domestic MAP market price slightly increased. From the enterprise perspective, some companies are still fulfilling their previous pre-orders, pausing quotations, with only a few new deals being made, and the trading atmosphere is average. In terms of cost, the inventory of raw material sulfur at ports has increased, but prices remain high, providing support from the cost side. In terms of demand, downstream purchases are limited and on-demand, leading to a weakened demand and an increased wait-and-see attitude in the market. Overall, although the MAP market demand is weak, it is supported by the favorable cost of pending orders. It is expected that the MAP market price will remain stable and adjust in the coming days.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo Data calculations, on September 18th, the domestic mainstream DAP 64% granule index was 3774, stable; the 60% brown index was 3210, stable; and the 57% content index was 3412.5, stable.

DAP Market Analysis and Forecast:

Today, the domestic DAP market showed a weak fluctuation. From the enterprise perspective, some DAP companies are still shipping their previous pre-orders, with sufficient pending orders, and many have paused their quotations. The factory quotations are basically the same as the previous working day. Additionally, due to the continuously shortened time for autumn fertilizer preparation, companies have quickly depleted their previous supplies, and currently, companies are more eager to ship. In terms of demand, although there is still a gap in the downstream rigid demand, the overall market purchasing enthusiasm is weak, and downstream traders are becoming more cautious in their purchasing mindset. Overall, with the upstream being eager to ship and the downstream being cautious in purchasing, it is expected that the DAP market price will remain stable.