Loading…
StoneX analyst Josh Linville says Indian phosphate purchases slowed, but Chinese October export data came in below expectations. He sees no excess phosphate supply among major exporters and expects spring demand to support prices.
Lower Chinese exports combined with snug global supply suggest phosphate prices will hold near current levels in the short term. Softer Indian buying is a limited offset.
stonex.comJosh LinvilleNov 29, 2024After 156 past report events, DAP moved a median 0.0% over 5 sessions (45% higher; middle half -0.6% to +0.9%), and +0.9% 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.
StoneX noted slower Indian phosphate purchases, which is a demand-side drag on DAP, though Chinese exports below expectations and no excess supply argue against a decline, so the net effect is limited.
