Phosphate Fertilizer Daily Review: Domestic Market Experiences Minimal Demand Amid High Nitrogen Fertilizer Production Season
Monoammonium Phosphate (MAP) Price Index:
According to data from Feidoodoo data, on April 1, 2024, the domestic price index for 55% powdered MAP stood at 3055.00, stable; for 55% granular MAP, it was 3150.00, stable; and for 58% powdered MAP, it was 3433.33, stable.
MAP Market Analysis and Forecast:
The domestic MAP market prices remained stable today. Companies are executing pre-received orders with most new orders scheduled until mid to early April. The focus of new transactions has shifted downwards, continuing sales pressure with actual transactions remaining negotiable. From a market perspective, new order transactions are sparse, showing a weak trend as the MAP market gradually enters the off-season. Regarding demand, the spring planting fertilizer phase concludes, with end-users' demand not significantly following up, mostly maintaining minimal on-demand purchases. Industrial compound fertilizer companies primarily digest inventory, showing decreased enthusiasm for raw material stockpiling. As for raw materials, prices for sulfur, phosphate rock, and synthetic ammonia are stable, with the latter slightly decreasing, indicating high volatility. Overall, given the current high nitrogen fertilizer production season, the demand for MAP is minimal, and the market prices for MAP are expected to continue their weak downward trend in the short term.
Diammonium Phosphate (DAP) Price Index:
According to Feidoodoo data, on April 1, 2024, the domestic mainstream price index for 64% granular DAP was 3846.67, stable; for 60% brown DAP, it was 3460.00, stable; and for 57% content DAP, it was 3507.50, stable.
DAP Market Analysis and Forecast:
The domestic DAP market prices remained stable today. Companies continue to execute remaining pre-received spring orders and a small volume of exports, with domestic demand entering the off-season and factory prices remaining stable. On the market side, there are low expectations for export prices, providing insufficient stimulus to the domestic market, continuing a weak trend. Demand-wise, end-user follow-up is insufficient, with most making on-demand purchases; downstream factories maintain essential transactions, with slow shipments, indicating average market demand. Raw material prices, including sulfur, phosphate rock, and synthetic ammonia, are stable with minor adjustments, indicating little change. Overall, with insufficient export benefits and continuing weak domestic demand, the DAP market prices are expected to continue fluctuating narrowly in the short term.
