Phosphate Fertilizer Weekly Report: Improved MAP Trading Atmosphere, Continued Calm in DAP Market

Phosphate Fertilizer Market Analysis

Phosphate Fertilizer Market Price Analysis

Monoammonium Phosphate (MAP):

According to Feidoodoo data calculations, this week, the average price index for 55% powdered MAP was 2898.25, an increase of 9.50 from last week, a 0.33% rise week-on-week. The 55% granular price index averaged 3050.00, remaining stable compared to last week. The 58% powdered price index averaged 3250.00, a decrease of 16.67 from last week, a 0.51% drop week-on-week.

This week, domestic MAP prices remained stable with slight fluctuations. The trading atmosphere improved, with a reduction in low-end supplies and a slight upward shift in market transaction focus. Enterprises reported good order intake with new orders increasing, and some paused order-taking and quoting due to strong pending orders. Market sentiment improved, with a better trading atmosphere and reduced low-end supplies. On the supply side, the industry operating load remained low, tightening supply and making shipments difficult. Demand was moderate due to the high nitrogen fertilizer production period limiting phosphate consumption, but compound fertilizer factories showed strong procurement needs.

Diammonium Phosphate (DAP):

According to Feidoodoo data calculations, this week, the average price index for 64% granular DAP was 3829.00, a decrease of 4.67 from last week, a 0.12% drop week-on-week. The 60% brown price index averaged 3450.00, remaining stable compared to last week. The 57% content DAP price index averaged 3465.00, remaining stable compared to last week.

This week, domestic DAP prices remained stable with minor adjustments. Market transactions were flat with stable prices. Enterprises continued to execute pre-sold domestic and export orders with stable quotations. Market supplies increased, but export prices slightly fell, leading to an inverted price relationship with domestic prices. Supply remained stable with slight tightness in some areas, and demand was limited as spring planting wound down, leading to cautious just-in-time procurement.

Domestic Phosphate Fertilizer Industry Operating Conditions

Domestic MAP Industry Operating Conditions

According to Feidoodoo data, this week, the domestic MAP industry operating rate was approximately 46.70%, an increase of 4.05% from last week, and a 16.02% increase year-on-year. The operating rate increased compared to the previous week, continuing to exceed last year's levels.

Domestic DAP Industry Operating Conditions

According to Feidoodoo data, this week, the domestic DAP industry operating rate was approximately 52.94%, an increase of 0.25% from last week, and a 7.67% increase year-on-year. The operating rate increased compared to the previous week, continuing to exceed last year's levels.

Domestic Phosphate Fertilizer Weekly Production Trends

Domestic MAP Weekly Production Trends

According to Feidoodoo data, this week, domestic MAP production was approximately 182,400 tons, an 8.02% decrease from last week, but a 52.89% increase year-on-year. Weekly MAP production decreased but remained higher than last year.

Domestic DAP Weekly Production Trends

According to Feidoodoo data, this week, domestic DAP production was approximately 254,900 tons, a 0.47% increase from last week, and a 14.20% increase year-on-year. Weekly DAP production increased, continuing to exceed last year's levels.

Domestic Phosphate Fertilizer Port Inventory Trends

Domestic MAP Port Inventory Trends

According to Feidoodoo data, this week, domestic MAP port inventory was approximately 113,000 tons, remaining stable compared to last week, and a 50.67% increase year-on-year.

Domestic DAP Port Inventory Trends

According to Feidoodoo data, this week, domestic DAP port inventory was approximately 127,000 tons, remaining stable compared to last week, but a 43.15% decrease year-on-year.

Phosphate Fertilizer Market Forecast

Monoammonium Phosphate (MAP):

Overall, the current MAP market is supported by pending orders and costs, with good follow-up demand and improved trading atmosphere this week. With continued supply reduction, MAP prices are expected to remain stable with slight fluctuations next week.

Diammonium Phosphate (DAP):

Overall, the current DAP market remains stable with tight supplies in some areas and flat downstream demand. Market changes are limited, with a focus on consolidation. DAP prices are expected to continue a stable, minor adjustment trend next week.