Phosphate Fertilizer Daily Review: Poor Market Transactions, Prices Continue to Show Weak Stability

Monoammonium Phosphate (MAP) Price Index:
According to data from Feidoodoo, on January 18th, the domestic 55% powdered MAP index was stable at 3196.88; the 55% granular index remained steady at 3250.00; and the 58% powdered index was stable at 3416.67.

MAP Market Analysis and Forecast:
Today, the domestic MAP market prices remained stable. From the business perspective, some enterprises introduced policies for closing orders, leading to a downward shift in price focus, and lower-end prices continuously appeared in the market, with actual transactions continuing to be negotiable. On the market front, the sales atmosphere remains sluggish, with many traders adopting a wait-and-see approach. In terms of demand, the downstream compound fertilizer sales situation is unsatisfactory, with tepid market follow-up and a general lack of enthusiasm. Continuous bearish news has increased the pressure on downstream finished product inventories, reducing the enthusiasm for raw material procurement. In terms of raw materials, the prices of sulfur and synthetic ammonia continued to slide, while phosphate rock prices remained stable, weakening the raw material support. In summary, the current MAP market is operating weakly, with downstream purchases slowing due to poor sales, and it is expected that MAP market prices will continue to decline for a short period.

Diammonium Phosphate (DAP) Price Index:
According to Feidoodoo, on January 18th, the domestic mainstream 64% granular DAP index remained stable at 3860.00; the 60% brown index stable at 3450.00; and the 57% content index steady at 3530.00.

DAP Market Analysis and Forecast:
Today, the domestic DAP market prices maintained stability. From the business perspective, enterprises continued the phased receipt model for orders, with most having sufficient pending orders and current quotes stable. Upstream traders' quotes were chaotic, with actual transactions continuing to be negotiable. In terms of market sentiment, there is a lack of short-term improvement, and the atmosphere continues to be weak. Demand-wise, the winter storage market is progressing slowly, with a subdued transaction atmosphere and continued weak operation; downstream purchasing enthusiasm is lacking, with a prevailing wait-and-see attitude. Regarding raw materials, prices for synthetic ammonia and sulfur are declining, while phosphate rock remains in tight supply with rising prices, leading to a continued downward cost trend. In summary, the current DAP market is experiencing low transactions, with downstream purchasing slowing and a continued wait-and-see approach, leading to expectations of a slight decrease in DAP market prices in the short term.