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Chinese phosphate export halt reportedly set for December 1, 2024, with traders buying DAP for the Ethiopian tender. MAP prices rose to USD 840-870/MT FOB China on winter restocking and constrained export supply.
Rising sulphur costs are pushing up Chinese production costs.
A Chinese export halt would remove a major phosphate supply source and support global DAP and MAP prices. Higher sulphur costs add upward pressure on production costs.
waypointcommodities.comNov 27, 2024waypointcommodities.comNov 28, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 23 past neutral trade events, Urea moved a median 0.0% over 5 sessions (48% higher; middle half -1.1% to +1.0%), and +2.8% over 20.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% over 20.
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.
