Phosphate fertilizer daily review: Weak cost support, high inventory pressure in factories (June 1)

Monoammonium phosphate price index:

According to Feiduo data, on June 1, the 55% powder index of China's monoammonium phosphate was 2598.75, stable; the 55% particle index was 2975.00, stable; and the 58% powder index was 2993.33, stable.

Monoammonium phosphate market analysis and forecast:

Today, China's monoammonium phosphate market is still weak and running smoothly. Today, the price of synthetic ammonia is still showing a downward trend due to the impact of imported sources; the sulfur market is temporarily stable. It is reported that some intend to buy low prices and test for low prices, and sellers also have the idea of continuing to lower their prices; phosphate rock is inferred in the short term that it will not be easy to quote downwards, but the current cost support is no longer good. After entering June, corn will be intensively subjected to a wave of topdressing. However, it is observed that the market demand for monoammonium in the early stage is relatively small, so this topdressing will not be beneficial to monoammonium. Overall, the monoammonium market is still dominated by negative trends and continues to operate in a weak position.

Specific market prices in each region are as follows:

Diammonium phosphate price index:

According to Feiduo data, on June 1, the 64% particle index of China's mainstream diammonium phosphate was 3,650.00, stable; the 60% brown index was 3,300.00, stable; and the 57% content index was 2,687.50, stable.

Diammonium phosphate market analysis and forecast:

Today, the market price of diammonium phosphate in China is stabilizing, and the market mentality is wait-and-see. A brief analysis has been made on the cost side above, which continues to have a negative impact on the diammonium market. From a downstream perspective, the compound fertilizer market has been consolidated in a narrow range at a low level. With the expansion of terminal fertilizer, dealers have certain replenishment behavior. Part of the demand for terminal storage has resulted in a small amount of shipments in the diammonium market, but market confidence is poor, and the inventories of diammonium factories and traders are under pressure. It is expected that market prices may continue to fall in the short term.

Specific market prices in each region are as follows: