Phosphate Fertilizer Daily Review: No Changes in Market Situation, Prices Remain Steady

June 12, 2024, 9:21 AM

feidoodoo

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Guide

Highlights at a glance

The Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP) markets in China remained stable on October 11, according to Feidoodoo data. MAP prices held steady across grades—55% powder at 3,131.25, 55% granule at 2,820.00, and 58% powder at 3,333.33—with most producers focused on fulfilling pre-dispatch orders, limiting new quotations. Demand has softened as downstream buyers, already well-stocked, delay further purchases. Phosphate rock costs remained flat, weakening cost support. Similarly, DAP prices were unchanged, with 64% granule at 3,770.00, 60% brown at 3,280.00, and 57% content at 3,262.50. Producers are completing prior contracts, showing limited interest in new deals. Downstream restocking remains modest, and declining synthetic ammonia prices continue to reduce cost pressures. Overall, both MAP and DAP markets show stability amid low demand momentum and weak raw material support, with short-term prices expected to remain largely unchanged, allowing only minor fluctuatio

Monoammonium Phosphate Price Index:

According to the data provided by Feidoodoo: On October 11th, the domestic Monoammonium Phosphate 55% powder index stood at 3131.25, stable; 55% granule index at 2820.00, stable; 58% powder index at 3333.33, stable.

Monoammonium Phosphate Market Analysis and Forecast:

Today, the domestic monoammonium phosphate market prices continued to remain stable. From the enterprise perspective, most companies are still in the pre-dispatch support state, pausing quotations. Some orders can be executed until the end of this month or even mid-next month. Under the pre-dispatch support, MAP prices remain steady. Cost-wise, the price of raw phosphate rock remained stable today, with weakened cost support. On the demand side, current market demand is winding down, and many downstream entities have sufficiently stocked up earlier, postponing purchases with a watchful attitude. Overall, the MAP market currently has pre-dispatch support, and it's anticipated that the monoammonium phosphate market prices will continue to remain stable in the short term.

Diammonium Phosphate Price Index:

According to the data provided by Feidoodoo: On October 11th, the domestic mainstream Diammonium Phosphate 64% granule index was 3770.00, stable; 60% brown index was 3280.00, stable; 57% content index was 3262.50, stable.

Diammonium Phosphate Market Analysis and Forecast:

Today, domestic Diammonium Phosphate market prices remained steady. From the enterprise perspective, companies continued to fulfill previous orders, with few orders remaining and most companies clearly intending to finalize deals. On the demand side, the downstream continues with minor essential follow-ups, with overall restocking enthusiasm being average. In terms of raw materials, the price of synthetic ammonia continued to decline slightly, with cost support still weak. In general, there's no change in the Diammonium Phosphate market, and it's expected that future DAP market prices will remain mainly stable with minor adjustments.

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