Phosphate Fertilizer Monthly: Strong Cost Support, High Phosphate Fertilizer Prices

Analysis and Forecast of Phosphate Fertilizer Market Prices:

Analysis of Monoammonium Phosphate Market Prices:

According to Feidoodoo Data, as of October 30, 2023, the domestic index for 55% powdered monoammonium phosphate is 3237.50, up 137.50 from the beginning of the month, an increase of 4.44%; the 55% granular index is 2820.00, stable compared to last month; the 58% powdered index is 3426.67, up 110.00 from the beginning of the month, an increase of 3.32%.

Analysis of Diammonium Phosphate Market Prices:

According to Feidoodoo Data, as of October 30, 2023, the domestic index for 64% granular diammonium phosphate is 3791.67, up 7.67 from last month, an increase of 0.20%; the 60% brown monthly average index is 3450.00, up 130.00 from the beginning of the month, an increase of 3.92%; the 57% content diammonium phosphate index is 3445.00, up 92.50 from the beginning of the month, an increase of 2.76%.

Forecast for the Phosphate Fertilizer Market:

In terms of raw materials, phosphate ore prices are expected to remain strong and rise next month; synthetic ammonia prices are expected to continue to rise; the sulfur market is expected to continue to explore lower levels. Overall, under the support of the cost side, the phosphate fertilizer market price will fluctuate slightly next month.

Domestic Phosphate Fertilizer Industry Operation:

As of October 26, 2023, the operating rate of the domestic monoammonium phosphate industry is about 53.44%, a decrease of 9.50% month-on-month, and an increase of 5.81% year-on-year. The operating rate of the domestic diammonium phosphate industry is about 49.48%, an increase of 7.44% month-on-month, and an increase of 4.42% year-on-year.

Domestic Phosphate Fertilizer Production Trend:

As of October 26, 2023, the monthly production of domestic monoammonium phosphate is 919,300 tons, a decrease of 141,400 tons from the previous month, a month-on-month decrease of 13.33%, and a year-on-year increase of 21.38%.

Domestic Phosphate Fertilizer Import and Export Data:

In September 2023, China's export volume of monoammonium phosphate was 87,500 tons, a year-on-year decrease of 63.99%, and a month-on-month decrease of 72.86%. The average export price this month was 527.76 US dollars/ton.

Domestic Phosphate Fertilizer Apparent Consumption Data:

In September 2023, the apparent consumption of monoammonium phosphate in China was 973,200 tons, an increase of 210,000 tons from August, a month-on-month increase of 27.52%.

Domestic Phosphate Fertilizer Port Inventory Trend:

As of October 26, 2023, the main port inventory of monoammonium phosphate in the domestic market is 48,100 tons, an increase of 28,100 tons from the end of last month, an increase of 140.50%.