Phosphate Fertilizer Daily Review: Downstream Demand Weak, Phosphate Fertilizer Prices Remain Strong

Monoammonium Phosphate (MAP) Price Index:
According to Feidoodoo data, on October 19, the domestic MAP 55% powder index is 3131.25, stable; the 55% granule index is 2820.00, stable; the 58% powder index is 3333.33, stable.

MAP Market Analysis and Forecast:
Today's domestic MAP market prices remain stable. On the company front, most enterprises still have pending orders. Firms with larger pending orders maintain strong quotations, while some companies show a slight downward price trend as pending orders decrease. On the supply side, due to reduced production this week, market supply continues to shrink, and the current MAP market supply is low. On the cost side, raw material phosphate rock prices remain stable, with cost support still in place. On the demand side, demand for MAP has weakened due to the completion of autumn sowing and the low operation of downstream compound fertilizer plants. This has led to few new orders and narrow market demand. Overall, MAP market supply is reduced and supported by pending orders, but downstream demand is weak. Prices are expected to remain stable in the short term.

Diammonium Phosphate (DAP) Price Index:
According to Feidoodoo data, on October 19, the domestic mainstream DAP 64% granule index is 3770.00, stable; the 60% brown index is 3280.00, stable; the 57% content index is 3320.00, stable.

DAP Market Analysis and Forecast:
Today's domestic DAP market prices remain stable. On the supply side, supply continues to shrink this week, and some facilities plan to undergo maintenance at the end of the month, so the supply reduction is expected to continue. On the company side, export and pending orders still provide support, and companies have mostly suspended quoting and payments, keeping quotations strong under the support of pending orders. On the demand side, the autumn fertilizer for wheat is nearly over, and the winter storage market continues to watch, leading to an overall mediocre trading situation. On the material side, the price of synthetic ammonia has risen slightly, but overall cost support remains weak. Overall, DAP companies maintain strong prices, but downstream sentiment is watching. Prices are expected to remain at a stalemate in the short term.