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Chinese domestic MAP prices weakened on January 30, 2024, with the 55% powder index dropping to 3,100. DAP grades held steady as pre-Spring Festival production cuts and weak buyer demand limited transactions.
Production shutdowns ahead of the Spring Festival and thin demand point to continued softness in Chinese phosphate prices, which trims near-term export offers.
fdd-global.comFeidoodooJan 31, 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.
Weak Chinese phosphate demand and pre-Spring Festival production cuts on Jan 30-31 pointed to soft market conditions, a bearish sentiment signal for DAP, though DAP grades held steady.
