Phosphate Fertilizer Daily Review: Tight Supply Continues, Downstream Rigid Demand Persists

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data: On November 21st, the domestic index for 55% powdered MAP was 3500.00, showing an increase; the 55% granular index was stable at 3400.00; and the 58% powdered index rose to 3683.33.

MAP Market Analysis and Forecast:

Today, the domestic MAP market prices continued to operate steadily. From the business perspective, pending factory orders, supported by policies to ensure supply and stabilize prices, have kept the manufacturer's ex-factory prices stable, focusing on executing pre-received orders. On the supply side, daily production remains low, with tight on-site supplies supporting high prices. In terms of demand, the market saw a small number of orders, with downstream compound fertilizer companies maintaining rigid demand for raw materials, and traders continuing to adopt a wait-and-see attitude. On the raw material front, the prices of sulfur and synthetic ammonia remain firm, and phosphate rock continues to face tight supply with an upward trend, providing cost support. Overall, the MAP market shows no significant changes, and the MAP market prices are expected to maintain a consolidating operation in the short term.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data: On November 21st, the domestic mainstream index for 64% granular DAP was stable at 3880.00; the 60% brown index fell to 3670.00; the 57% content index remained stable at 3610.00.

DAP Market Analysis and Forecast:

Today, the domestic DAP market prices continued to consolidate at high levels. On the business side, most companies have not quoted or received payments yet, with actual new orders mainly being negotiated, focusing on shipping pre-collected orders without inventory pressure. In terms of supply, mainstream market arrivals were scarce, with a continuing tight supply supporting high prices. In terms of demand, the winter storage market has a large rigid demand, with short-term tight supply expected to continue. Downstream inquiries are mostly at lower prices, with actual purchases largely in a wait-and-see mode. In terms of raw materials, the prices of sulfur and synthetic ammonia remained stable, and phosphate rock prices were relatively steady overall, providing cost support. In summary, the current DAP market demand is strong, with the tight supply situation continuing. However, guided by policies to ensure supply and stabilize prices, DAP prices are expected to undergo stable, narrow-range consolidation in the short term.