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China's domestic phosphate fertilizer market weakened in April 2024 on sluggish demand and reduced operating rates. The 55% powdered MAP index fell 5.69% to 2,881.25, while DAP saw minor price corrections.
Port inventories rose and export volumes fell sharply year on year.
Weak Chinese phosphate prices and export volumes point to soft global phosphate demand, which may keep DAP prices under pressure. Lower fertilizer costs are a minor offset for feed grain producers.
fdd-global.comFeidoodooApr 30, 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.
