Phosphate Fertilizer Daily Review: Phosphate Fertilizer Supply Tensions Await Release, Supporting Market Prices to Continue at High Levels

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data calculations: As of November 6th, the domestic index for 55% powdered MAP was 3393.75, rising; the index for 55% granular MAP was 2820.00, stable; and the index for 58% powdered MAP was 3516.67, stable.

MAP Market Analysis and Forecast:

Today, the domestic MAP market prices continued to consolidate at high levels. On the factory side, there is a large volume of orders awaiting dispatch, leading to a suspension of quoting and order acceptance, and with this support, the manufacturers' bullish sentiment is strong, and their quotes continue to be firm and probing higher. On the supply side, the market's tight supply situation continues, with available supplies remaining tight and merchants reluctant to sell. On the demand side, downstream continues to purchase on demand, and the atmosphere for inquiries is quite positive due to the bullish sentiment. In summary, the MAP market is supported by pending dispatches, manufacturers are firm on pricing, supply is tight, and demand is following, so it is expected that MAP market prices will continue to be firm at high levels in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data calculations: As of November 6th, the domestic mainstream index for 64% granular DAP was 3866.67, rising; the index for 60% brown DAP was 3550.00, rising; and the index for 57% DAP content was 3550.00, rising.

DAP Market Analysis and Forecast:

Today, the domestic DAP market prices continued to consolidate steadily. On the factory side, most factories are still in the process of suspending quotes and orders, with few new orders being made, and manufacturers mainly dispatching pre-received export orders. On the supply side, the domestic market is currently scarce, with social inventories at low levels and limited arrivals for the winter storage market. On the demand side, upstream traders are actively seeking goods, and some downstream just-in-time demands are following, with transaction prices remaining high and a cautious wait-and-see attitude, waiting for mainstream enterprises to set clear prices. In terms of raw materials, the prices of raw sulfur and synthetic ammonia are fluctuating narrowly, and the cost support remains strong. In summary, with most factories inside sales not yet priced, scarce market supplies, high transaction prices, and slow downstream follow-up, it is expected that DAP prices will still mainly consolidate at high levels in the short term.