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Chinese MAP and DAP markets weakened on January 8, with the 55% powder MAP index falling to 3,308.75 and the 64% granular DAP index dropping to 3,863.33. Producers suspended quotations due to insufficient new orders and downstream buyers held minimal inventory.
Phosphate rock prices stayed high but falling sulfur and ammonia costs limited upside.
Weak domestic demand and falling input costs point to continued downward pressure on Chinese phosphate prices. Export-oriented supply may become more available to global buyers.
fdd-global.comFeidoodooJan 9, 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.
