September 16 Phosphate Fertilizer Daily Review: Weaker Raw Materials Weigh on the Market as Divergence Persists

September 17, 2026

FDD-global.com

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Guide

Highlights at a glance

This comprehensive market analysis provides insights into China's MAP, DAP, and sulfur markets as of September 16. 55% powdered MAP prices declined slightly, while granular and higher concentration indexes remained flat. The market outlook suggests weak supply and demand dynamics and cautious trader sentiment amid geopolitical uncertainties. DAP markets held stable with signs of improved trading activity as autumn stockbuilding commenced, though purchases were mostly limited to essential needs. Sulfur prices at ports declined further due to weak demand and tight domestic supply influenced by international geopolitical disruptions. Overall, all three markets face short-term uncertainties driven by raw material cost pressures and subdued downstream demand.

MAP Price Index:

According to FDD data, on September 16, China's 55% powdered MAP index stood at 4,060.00, down 1.07% from the previous working day; the 55% granular MAP index was 4,300.00, unchanged from the previous working day; and the 58% powdered MAP index was 4,416.67, unchanged.

MAP Market Analysis and Forecast:

Today, China's MAP market continued its weak downward trend. On the producer side, most plants continued to fulfill earlier orders. Market prices for 55% powdered MAP continued to fall, traders kept lowering their quotations, and actual transactions remained subject to negotiation. On the market side, the stagnant and subdued trading atmosphere persisted. On the demand side, demand from some downstream compound fertilizer producers showed no significant improvement. Buyers maintained only limited purchases for essential needs, purchasing interest remained low, new orders were limited, market sentiment remained cautious amid the deadlock, and demand continued to be relatively weak. On the raw material side, domestic sulfur prices continued to decline with a weak bias today; sulfur inventories at ports remained relatively low; sulfuric acid prices continued to consolidate weakly; and the phosphate rock market was mainly stable. Although raw-material prices on the cost side declined, they remained at elevated levels and continued to provide relatively strong support to producers. Overall, the MAP market remained characterized by weak supply and weak demand. Cost support weakened marginally while demand recovery remained sluggish, and the market is expected to maintain a weak downward trend in the short term. Attention should remain on raw-material price movements, the pace at which downstream compound fertilizer producers begin autumn fertilizer stockbuilding, and the transmission of geopolitical developments to the cost side.

DAP Price Index:

According to FDD data, on September 16, China's mainstream 64% granular DAP index stood at 4,563.33, unchanged from the previous working day; the 60% brown DAP index was 4,700.00, unchanged; and the 57% DAP index was 4,367.50, unchanged.

DAP Market Analysis and Forecast:

Today, China's DAP market continued to consolidate within a narrow range. On the producer side, some producers focused mainly on shipping previously pending orders. Producers maintained firm prices, while actual transactions remained subject to negotiation. On the market side, the trading atmosphere showed some improvement. On the demand side, as the autumn fertilizer stockbuilding window gradually approaches, downstream end-user demand is being released progressively. The circulation of material has accelerated compared with the previous period, and the trading atmosphere has shown signs of improvement. However, purchases remain concentrated in small orders for essential needs, while large-scale procurement has not yet begun. On the raw material side, domestic sulfur prices continued to decline with a weak bias today; sulfur inventories at ports remained relatively low; sulfuric acid prices continued to trend weakly; and the phosphate rock market was mainly stable. Although raw-material prices on the cost side declined, they remained relatively high and continued to provide strong market support. Overall, the DAP market is expected to remain deadlocked and rangebound in the short term. Attention should remain on changes in raw-material prices, downstream demand follow-through, and subsequent adjustments to export policies.

Sulfur Market Prices:

According to FDD data, on September 16, granular sulfur at Zhenjiang Port was priced at RMB 7,400/tonne, down RMB 100/tonne from the previous working day; granular sulfur at Dafeng Port was RMB 7,380/tonne, down RMB 100/tonne; powder and lump sulfur at Zhenjiang Port was RMB 7,350/tonne, down RMB 100/tonne; powder and lump sulfur at Dafeng Port was RMB 7,330/tonne, down RMB 100/tonne; solid sulfur in East China was RMB 7,800/tonne, unchanged; and liquid sulfur in East China was RMB 7,620/tonne, unchanged.

Sulfur Market Analysis and Forecast:

China's sulfur market continued to decline weakly today, with the overall market under pressure. Granular sulfur prices at ports continued to fall, buying interest contracted, and sellers lacked effective pricing references, naturally shifting the market center lower. The Shandong liquid sulfur market fluctuated while remaining broadly stable. Auction transaction prices at independent refineries held steady, downstream users mainly replenished stocks as needed, some resources went unsold at auction, and several producers lowered their quotations, leaving market sentiment bearish. On the supply side, overall output of by-product sulfur from domestic refineries remained relatively stable. Some resources were directed toward ensuring supply for phosphate fertilizer production, reducing the volume of tradable material available in distribution channels. International geopolitical factors continued to disrupt overseas supply, and international prices provided strong cost support. However, uncertainty remained over the pace of import arrivals, while changes in circulating port inventories affected market sentiment. On the demand side, divergence was pronounced. Faced with high-priced sulfur in the merchant market, phosphate fertilizer producers remained cautious about active purchasing and mostly replenished limited volumes as needed. Their willingness to expand production further at high prices was limited. Other downstream industries, including sulfuric acid and titanium dioxide, remained under cost pressure, with some users switching to alternative raw materials such as smelter acid. Overall purchasing interest was weak, actual transactions were concentrated in essential demand, and trader participation was limited. The market is currently caught between cost support from international prices and insufficient acceptance among domestic downstream users. Quotations from some producers have shown signs of softening, but structurally tight supply continues to provide a price floor. The market remains largely deadlocked and has yet to establish a clear one-way trend. Going forward, attention should focus on changes in international shipping and overseas prices, the pace of port arrivals, raw-material purchases and operating rates at phosphate fertilizer producers, and the extent to which alternative raw materials displace sulfur demand.

Phosphate Fertilizer Market News:

September 16: In the Anhui MAP market, delivered quotations for 55% powdered MAP were around RMB 4,050-4,150/tonne, with quotations lowered.

September 16: In the Northeast China MAP market, delivered quotations for 55% powdered MAP were around RMB 4,350-4,400/tonne, with quotations stable.

September 16: In the Henan MAP market, delivered quotations for 55% powdered MAP were around RMB 3,980-4,150/tonne, with quotations lowered.

September 16: In the Hubei MAP market, mainstream ex-factory prices for 55% powdered MAP were around RMB 3,900-4,100/tonne, with quotations lowered.

September 16: In the Jiangsu MAP market, delivered quotations for 55% powdered MAP were around RMB 3,950-4,150/tonne, with quotations lowered.

September 16: In the Shandong MAP market, delivered quotations for 55% powdered MAP were around RMB 3,950-4,150/tonne, with quotations lowered.

September 16: In the Sichuan MAP market, delivered quotations for 55% powdered MAP were around RMB 3,950-4,050/tonne, with quotations stable.

September 16: In the Yunnan MAP market, ex-factory prices for 55% powdered MAP were around RMB 4,000-4,050/tonne, with quotations stable.

September 16: In the Shaanxi DAP market, ex-factory self-pickup quotations for 60% DAP were RMB 4,500-4,650/tonne, with quotations stable.

September 16: In the Northeast China DAP market, ex-factory self-pickup quotations for 64% DAP were RMB 4,550-4,600/tonne, with quotations stable.

September 16: In the Hebei DAP market, self-pickup quotations for 57% DAP were RMB 4,350-4,400/tonne, with quotations stable.

September 16: In the Hubei DAP market, ex-factory self-pickup quotations for 64% DAP were RMB 4,800-4,850/tonne, with quotations stable.

September 16: In the Shandong DAP market, ex-warehouse self-pickup quotations for 64% DAP were RMB 4,850-4,950/tonne, with quotations stable; station self-pickup quotations for 57% DAP were RMB 4,300-4,400/tonne, also stable.

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