Phosphate Fertilizer Daily Review: Favorable Upstream Conditions, Many Enterprises Pause Quotations
According to Feidoodoo data: On August 17, the domestic 55% powder index of MAP was 2890, stable; the 55% granular index was 2821, stable; and the 58% powder index was 3150, stable.
MAP Market Analysis and Forecast:
Today, domestic MAP prices remained generally stable. At present, most enterprises have suspended quotations, with many fulfilling prior orders that extend for some until the end of September. Downstream continues to maintain minimal essential procurement, and there is a strong sentiment for price hikes in the market. From the raw material perspective, the positive atmosphere for the price increase of upstream synthetic ammonia has led to a rise in MAP costs, providing some support for its prices. Overall, due to the current supply-demand imbalance in the MAP market, it is expected that there's still room for price increases in the short term.
Diammonium Phosphate (DAP) Price Index:
According to FertilizerMore data: On August 17, the mainstream 64% granular index for domestic DAP was 3640, increasing; the 60% brown index was 3130, rising; and the 57% content index was 3132.5, up.
DAP Market Analysis and Forecast:
Today, domestic DAP market prices once again showed an upward trend. Currently, many domestic DAP enterprises have either paused quotations or stopped taking orders, making market quotes scarce and DAP sources hard to find. Many businesses rely on prior pre-collected orders and export orders for support. There's a high bullish sentiment in the market, with traders clearly reluctant to sell. In summary, due to factors such as rising costs and increasing export prices, the DAP market shows a clear intention to uphold prices. It's anticipated that there remains potential for further price increases.
