Phosphate Fertilizer Daily Review: Weakened Cost Support, Market Continues Weak Operation

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data calculations: On January 11th, the domestic MAP 55% powder index was 3278.13, stable; the 55% granular index was 3400.00, stable; and the 58% powder index was 3566.67, also stable.

MAP Market Analysis and Forecast:

Today, the domestic MAP market prices remained stable. On the enterprise side, some enterprises still hold a small number of pending orders, with most pausing quotations. The current pending orders have reduced, leading to increased enterprise inventory, and trader prices are still disordered, with actual transactions being negotiated on a case-by-case basis. In the market, new order transaction volumes are limited, with insufficient trading, and the focus is still on the decline, maintaining a weak operation overall, with low-priced sources still existing. On the demand side, overall demand remains poor, with downstream compound fertilizer enterprises moving slowly, showing weak demand for raw materials and low purchasing enthusiasm. In terms of raw materials, prices for sulfur and synthetic ammonia continue to slide down, while phosphate rock prices remain stable, leading to weakened cost support. Overall, with low trading activity in the MAP market, it is expected that in the short term, MAP market prices will continue to adjust downwards.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data calculations: On January 11th, the domestic DAP mainstream 64% granular index was 3863.33, stable; the 60% brown index was 3460.00, stable; and the 57% content index was 3547.50, also stable.

DAP Market Analysis and Forecast:

Today, domestic DAP market prices continue to operate steadily. On the factory side, factories are mainly dispatching winter storage pre-orders, with sufficient pending orders and stable factory quotations. Traders' quotations are relatively disordered, with prices flexibly adjusted, and actual transactions being mainly negotiated. In the market, the trading atmosphere remains tepid, with a strong wait-and-see sentiment, appearing overall stagnant. On the demand side, buyers are postponing fertilizer purchasing, showing weak demand. In terms of raw materials, prices for synthetic ammonia and sulfur continue to adjust downward, while phosphate rock remains in tight supply and high demand, leading to fluctuating costs. Overall, with most DAP factories executing pending orders and transaction prices being negotiated, and continued weak market demand, it is expected that in the short term, DAP market prices will remain mostly stable with minor adjustments.