Daily review of phosphate fertilizer: Weak demand in the monoammonium market and strong wait-and-see attitude among ammonium industry (September 25)

Monoammonium phosphate price index:

According to Feiduo data, on September 25, the 55% powder index of China's monoammonium phosphate was 3,081.25, stable; the 55% particle index was 3,250.00, stable; and the 58% powder index was 3,416.67, stable.

Monoammonium phosphate market analysis and forecast:

Today, the market price of monoammonium phosphate in China remains weak. On the corporate side, corporate shipments are still under pressure, low-end quotations are frequently available, and supply continues to shrink. Some of them implement minimum guaranteed policies, and actual transactions are mostly negotiated. In terms of the market, the market has maintained a weak operation, the market weakness has moved downward, corporate orders have been poor, industry pessimism has intensified, and the market viewing atmosphere is obvious. In terms of demand, downstream autumn fertilizer shipments are still weak, equipment starts at a low level, raw materials just need to be purchased, replenishment is mostly at the low-end, and actual follow-up is limited. In terms of raw materials, the market prices of raw materials sulfur and phosphate rock are operating in a weak position, while the market price of synthetic ammonia has stabilized and increased slightly. The cost aspect has not changed much, and the price has dropped slightly. Overall, the current market demand for monoammonium is weak, downstream follow-up is limited, and the market is weak and stable. It is expected that the monoammonium phosphate market will continue to weaken in the short term.

Specific market prices in each region are as follows:

Diammonium phosphate price index:

According to Feiduo data, on September 25, the mainstream 64% particle index of diammonium phosphate in China was 3,816.67, stable; the 60% brown index was 3,550.00, stable; and the 57% content index was 3,447.50, falling.

Diammonium phosphate market analysis and forecast:

Today, the market price of diammonium phosphate in China has stabilized and moved slightly. In terms of enterprises, enterprises have sufficient waiting time, continued to start at a high level, and have a firm mentality. The current ex-factory price has not changed, so advance receipts are mainly implemented. In terms of the market, the market is operating weakly and stably, with 64% of the goods being tight and the prices being stable, and 57% of the goods being loose. Market prices have been adjusted within a narrow range. The mentality of the operators is poor, and the market is mainly in need of purchasing. On the demand side, downstream procurement enthusiasm is not good, with small orders just needing follow-up, but demand follow-up is limited, and overall demand performance is weak. In terms of raw materials, the market prices of raw materials sulfur and phosphate rock have stabilized, while the market price of synthetic ammonia has increased within a narrow range. The overall raw material market is operating in a volatile manner, supporting weakness. Overall, the current diammonium phosphate market operators have a strong wait-and-see attitude, and the actual transaction volume remains a small amount that needs to be followed up. It is expected that the diammonium phosphate market will operate weakly and steadily in a short period of time, and the focus of transactions may still decline.

Specific market prices in each region are as follows: