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China's domestic MAP index fell about 7% month-on-month in January 2024 on weak demand, reduced production and low operating rates, while DAP prices were roughly stable with minor drops. Port inventories fell sharply and December exports were mixed.
Weak Chinese phosphate demand and softening raw material costs point to lower phosphate export pressure, which marginally eases DAP and MAP costs for global feed-phosphate buyers.
fdd-global.comFeidoodooJan 31, 2024Not enough comparable past events yet for a historical read.
Not 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.
Monthly review shows weak demand and low operating rates in China with the MAP index down about 7% and DAP slightly lower, consistent with a modest DAP price drop on the day.
