Phosphate Fertilizer Daily Review: Weakening Cost Support, Slow Progress in Winter Storage Market

Monoammonium Phosphate (MAP) Price Index:

According to Feidoodoo data calculations: On January 10th, 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 factory side, most factories still do not have clear quotations, with prices showing a stable yet declining trend. The current market prices are disordered, and actual transactions are maintained on a case-by-case basis. In the market, the trading atmosphere is weak, with limited new order volumes and some low-end prices still present. The market focus continues to decline, with limited actual orders. On the demand side, demand remains poor, with downstream compound fertilizer enterprises holding a certain level of inventory. Market sales are slow, demand is low, and purchasing enthusiasm is not high, maintaining only minimal demand-based purchasing. Regarding raw materials, prices for sulfur and synthetic ammonia are weakly declining, while phosphate rock prices remain stable, leading to weakened cost support. Overall, with uncertain quotations from MAP enterprises and limited demand, market prices are disordered. It is expected that in the short term, MAP market prices will continue their weak operation.

Diammonium Phosphate (DAP) Price Index:

According to Feidoodoo data calculations: On January 10th, 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, the domestic DAP market prices continue to operate steadily. On the enterprise side, manufacturers continue to dispatch winter storage pre-orders, with sufficient pending orders and stable factory quotations. The upper-stream traders' quotations are relatively disordered, with actual transactions maintained flexibly negotiated. In the market, the trading atmosphere is average, with persistent wait-and-see sentiment. On the demand side, winter storage end purchases continue to be postponed, with the market progressing slowly and demand showing a continued weak operation. Regarding raw materials, prices for synthetic ammonia and sulfur continue to narrow down, while phosphate rock remains in tight supply and high demand, weakening cost support. Overall, with sufficient pending orders low inventory at DAP manufacturers, and insufficient market demand follow-up, it is expected that in the short term, DAP market prices will remain mostly stable with minor adjustments.