Phosphate Fertilizer Daily Review: The market still has positive support; Phosphate fertilizer prices remain stable

June 12, 2024, 9:21 AM

feidoodoo

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Highlights at a glance

The October 8 Feidoodoo data shows slight increases in Monoammonium Phosphate (MAP) prices, with the 55% powder index rising to 3131.25 and the 58% powder to 3333.33, while granular MAP remained stable at 2820. The domestic MAP market remains mostly stable, supported by high raw material costs and ongoing winter storage demand in the Northeast, despite slowing shipment volumes. Companies are focused on fulfilling prior contracts, with limited new quotations. For Diammonium Phosphate (DAP), prices held steady across all grades—64% granule at 3784, 60% brown at 3320, and 57% content at 3282.50. Market activity is tepid, as companies manage pre-existing orders and some halt production for maintenance. Although end-user demand is weak, rising sulfur and synthetic ammonia prices provide cost support. Overall, both MAP and DAP markets are expected to maintain a largely stable trend with minor adjustments in the near term.

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data: On October 8, the domestic MAP 55% powder index was 3131.25, showing an increase; the 55% granule index was 2820, remaining stable; the 58% powder index was 3333.33, marking an increase.

MAP Market Analysis and Forecast:

Today, the domestic MAP market price continues to maintain a majorly stable and minor adjustment trend. On the corporate side, companies continue to fulfill pre-ordered contracts, with many temporarily suspending quotations. The volume of shipments is gradually decreasing, but there's still some support. In terms of costs, raw material prices remain high, providing cost support. In terms of demand, although the fall sales are coming to an end, the winter storage in the Northeast market continues, indicating that the market's essential needs are still present. Overall, the MAP market has seen little change, and it's expected that the MAP market price will continue to maintain a stable operation in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data: On October 8, the domestic mainstream DAP 64% granule index was 3784, remaining stable; the 60% brown index was 3320, also stable; the 57% content index was 3282.50, stable as well.

DAP Market Analysis and Forecast:

Today, the domestic DAP market price continues its stable operation. From the corporate perspective, companies are still shipping out pre-ordered contracts. Some companies have temporarily halted their equipment for maintenance, leading to a slight decrease in operation rates. In terms of demand, the DAP market's demand is lukewarm, with end-user demand being average, maintaining a rather tepid transaction atmosphere. Regarding raw materials, the prices of sulfur and synthetic ammonia continue to rise, providing continued cost support. Overall, the DAP market's transaction atmosphere is tepid, and the DAP market price is expected to continue its majorly stable and minor adjustment trend.

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