Phosphate Fertilizer Daily Review: Market supply reduces; phosphate fertilizer prices largely stable.

June 12, 2024, 9:21 AM

Feidoodoo

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Highlights at a glance

The Monoammonium Phosphate (MAP) market remained stable on October 23, with the 55% powdered index at 3,162.50 and granular at 2,820.00, while the 58% powdered reached 3,356.67. Supply has tightened due to reduced production and lower pending shipment volumes, though firm company quotations remain supported by existing orders. Stable phosphate rock costs provide cost-side support. Demand in the Northeast remains active, with steady new order inflows, creating favorable short-term conditions. MAP prices are expected to rise slightly in the near term. Meanwhile, Diammonium Phosphate (DAP) prices showed mixed trends: the 64% granular index rose to 3,770.00, the 60% brown held at 3,280.00, and the 57% content dipped to 3,340.00. Most producers are focused on fulfilling prior export commitments, limiting new sales. Market activity is subdued as winter storage demand has not yet begun, leading to观望 sentiment. Slight increases in synthetic ammonia costs offer minor support. Overall, DAP price

Monoammonium Phosphate (MAP) Price Index:

According to the data calculated by Feidoodoo: On October 23, the domestic index for 55% powdered MAP was 3162.50, stable; the 55% granular index was 2820.00, stable; the 58% powdered index was 3356.67, stable.

MAP Market Analysis and Forecast:

Today, the domestic MAP market prices remained steady. On the company side, most companies are supported by their pending shipments, with firm quotations. Current pending shipments have reduced compared to earlier, and there have been reductions in production, leading to a decrease in market supply. On the cost side, raw phosphate rock prices are stable, and costs are still supported. In terms of demand, there is still a demand in the Northeast market, and new orders continue to follow up, making the demand side temporarily favorable. In summary, the current MAP market has reduced supplies and is supported by pending shipments. With the continuous follow-up of new orders in the Northeast market, it is expected that MAP market prices will show an upward trend in the short term.

Diammonium Phosphate (DAP) Price Index:

According to the data calculated by Feidoodoo: On October 23, the mainstream index for 64% granular DAP was 3770.00, up; the 60% brown index was 3280.00, stable; the 57% content index was 3340.00, down.

DAP Market Analysis and Forecast:

Today, the domestic DAP market prices are largely stable. On the company side, many businesses are dealing with previous exports and pending orders, currently pausing quotations and collections, with firm quotations supported by pending shipments. In terms of demand, the overall market demand is relatively weak at the moment, the winter storage market has not yet started, the trading atmosphere is light, and many are in a wait-and-see state. In terms of raw materials, the price of synthetic ammonia, a raw material, has risen slightly. In summary, the DAP upstream and downstream are currently in a game state. It is expected that the DAP market will continue to watch and wait in the short term, with prices continuing to stabilize and adjust.

Translation: Urea Daily Review: The marking price remains high in India, domestic market prices are generally increased.

Urea Daily Review: Export-friendly news remains unclear, market sentiment remains stagnant.