Phosphate Fertilizer Daily Review: Market Supply Remains Tight, Phosphate Fertilizer Prices Steady with Adjustments
Monoammonium Phosphate (MAP) Price Index:
According to data calculated by Feidoodoo, on November 2nd, the domestic index for 55% powdered MAP was 3300.00, showing an increase; the 55% granular index was 2820.00, stable; the 58% powdered index was 3500.00, stable.
MAP Market Analysis and Forecast:
Today, the domestic MAP market prices continued to consolidate at high levels. On the factory side, factories continue to suspend taking orders and quoting prices, with deliveries executable until the end of November or early December. The support from pending deliveries remains strong, with a firm mentality and a strong atmosphere for pushing prices up. On the supply side, the start-up rate of MAP remains low, and the market supply is tight, with holders reluctant to sell. On the demand side, the market demand is still dominated by winter storage, with immediate needs expected in the Northeast, North China, and parts of East China, and a clear market outlook for the later period. In summary, with a large number of orders and support from pending deliveries, coupled with limited supply and persistent demand, it is expected that the upward trend in MAP market prices will continue for a short period.
Diammonium Phosphate (DAP) Price Index:
According to data calculated by Feidoodoo, on November 2nd, the domestic mainstream index for 64% granular DAP was 3805.00, stable; the 60% brown index was 3500.00, stable; the 57% content index was 3465.00, stable.
DAP Market Analysis and Forecast:
Today, the domestic DAP market prices continued to operate steadily with adjustments. On the factory side, factories continue to execute export orders, with most factories yet to announce winter storage prices and businesses not yet collecting payments. On the supply side, the scarcity of DAP in the market continues, with tight supply favoring the market. On the demand side, the domestic DAP market's immediate needs are slowly following up, with downstream traders maintaining a wait-and-see attitude, and industrial immediate needs for winter storage are continuously purchasing. Regarding raw materials, the prices of raw sulfur and synthetic ammonia have fluctuated slightly, with costs remaining high. In summary, supported by export orders from DAP factories, with continuous follow-up of downstream immediate needs, and high raw material prices remaining firm, it is expected that DAP prices will continue to operate at high levels with adjustments in the short term.
