Phosphate Fertilizer Daily Review: Market cost support, downstream demand remains strong for purchase
Monoammonium Phosphate (MAP) Price Index:
According to Fertdodo data, as of October 30, the domestic 55% powdered MAP index is 3243.75, up; 55% granular index is 2820.00, stable; 58% powdered index is 3426.67, stable.
MAP Market Analysis and Forecast:
Today's domestic MAP market price has slightly increased. From the factory side, most factories have a large backlog of orders, with November orders already filled. Many factories have temporarily stopped taking orders and are facing no pressure to ship under these circumstances. On the supply side, the utilization rate of MAP production continues to decline, and most factories have stopped production, limiting the market supply. The trading atmosphere is cautious. On the demand side, the market is currently in the winter storage phase, and the atmosphere for inquiries is good, with downstream agricultural needs still offering support. Overall, the MAP market is expected to maintain high levels in the short term, supported by factories' backlog, limited supplies, and demand-driven purchases by the downstream sector.
Diammonium Phosphate (DAP) Price Index:
According to Fertdodo data, as of October 30, the domestic mainstream 64% granular DAP index is 3791.67, stable; 60% brown index is 3500.00, up; 57% content index is 3465.00, up.
DAP Market Analysis and Forecast:
Today's domestic DAP market prices are high and stable. From the factory side, most are focused on fulfilling export orders, with some facilities undergoing maintenance. The strong export orders have bolstered producer sentiment. On the supply side, the market is experiencing a shortage of DAP, supporting prices. On the demand side, the winter storage market for agricultural needs has been slow to start and cautious in following up. However, there is still a modest amount of immediate demand from both industrial and agricultural sectors. Raw material prices, such as sulfur and synthetic ammonia, are also firm, adding to cost pressures. Overall, given the rising costs and cautious purchasing sentiment, DAP market prices are expected to remain stable for the short term.
