Phosphate Fertilizer Daily Review: Weak Demand Continues, Market Prices Remain Steady Yet Adjusting

Monoammonium Phosphate (MAP) Price Index:
According to Feidoodoo data as of December 27, the price index for 55% powdered monoammonium phosphate (MAP) in China remained stable at 3379.38, the 55% granular index at 3400.00, and the 58% powdered index at 3633.33.

MAP Market Analysis and Forecast:

Today's domestic MAP market prices remained steady. Factories focused on fulfilling earlier orders and temporarily halted new quotations. The pending orders continue to reduce, with some factories subtly lowering prices for downstream clients. The market continues to operate weakly with limited actual transactions and follow-up on firm orders. Downstream compound fertilizer enterprises are showing low purchasing enthusiasm, indicating continued sluggishness in demand. Regarding raw materials, prices for synthetic ammonia and sulfur fluctuated moderately, while the tight supply of phosphate rock persisted, leading to minor adjustments in costs. Overall, with no clear quotations in the MAP market and cautious purchasing by the downstream sector, actual transactions are mostly negotiable. The MAP market prices are expected to maintain a steady yet slightly adjusting trend in the short term.

Diammonium Phosphate (DAP) Price Index:

As per Feidoodoo data on December 27, the index for mainstream 64% granular DAP in China remained stable at 3871.67, the 60% brown index at 3460.00, and the 57% content index decreased to 3567.50.

DAP Market Analysis and Forecast:

Today's domestic DAP market prices remained stable. Factories, with sufficient pre-received orders extending to the end of January, maintained stable factory prices with a firm pricing mindset and no apparent inventory or sales pressure. The market experienced average transactions, and the atmosphere continued to be calm and steady. Supply-wise, the DAP industry still exhibits a tight supply, providing some support to the prices. Demand-wise, the enthusiasm for winter stockpiling in the downstream market remains moderate, with persistent watchfulness and slow follow-up in purchases. In terms of raw materials, synthetic ammonia and sulfur prices are fluctuating, while phosphate rock prices remain firm, offering cost support. Overall, with a reduced supply supporting the DAP market but slow follow-up in downstream demand, DAP market prices are expected to continue a steady yet adjusting trend in the short term.