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China's DAP market was stable in Q1 2024 with minor price fluctuations amid weak domestic demand. Output rose 13.99% year on year to 3.81 million tons, while DAP exports fell 68.83% in January-February to 115,400 tons and port inventories dropped 8.45%.
Analysts expect a stable-to-soft market in Q2 given high supply and weak demand.
High domestic supply and weak agricultural demand point to soft Chinese DAP prices, which can weigh on world phosphate prices if export volumes recover.
fdd-global.comFeidoodooApr 7, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
