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Chinese domestic MAP prices slipped on March 28, with the 55% powdered index falling to 3055.00 while granular grades held steady. The 57% DAP grade dropped to 3507.50 as new orders stayed weak and sales came under pressure.
Ample supply and weak downstream demand are pushing phosphate quotes lower, which points to softer DAP prices in the near term.
fdd-global.comFeidoodooMar 29, 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.
Chinese DAP 57% index fell on March 28 with weak new orders and sales pressure, a direct bearish signal close to the move date.
Weak new orders and falling Chinese DAP/MAP indices on March 28 show soft domestic demand and downward price pressure.
