Chinese market:
Just over a week in August, the market price of monoammonium phosphate in China still maintains an upward trend, and the recent atmosphere of speculation in the domestic market is still strong, and the market supply is tight under the continuous increase of costs. The international market continues to improve, with more inquiries and higher prices. Recently, the prices of various raw materials continue to rise, the overall market shows a relatively "tight supply" state, with the introduction of new factory prices, procurement demand will continue to follow up.
International Market:
Since mid-late June, the export price of mono-ammonium phosphate has risen continuously, as of last Friday, 11-44 grains of 370-385 US dollars/ton FOB China, 10-50 grains of 427-446 US dollars/ton FOB China, respectively, compared with the lowest price in the year 40 US dollars/ton, 59 US dollars/ton. The increase in crop affordability ratio has stimulated some demand in the United States and Brazil. The increase in demand in the United States due to low inventories and tight supply has supported the price increase of mono-ammonium phosphate. The Brazilian market shortened the import time before soybean sowing began in September and October, and the spot demand for mono-ammonium phosphate recovered. The price of mono-ammonium phosphate in Latin America continues to rise, driven by demand from Brazil, while purchases from Argentina and Paraguay also appear. The tight supply of mono-ammonium phosphate in the United States also pushed the price of mono-ammonium phosphate west of Suez further higher; In addition, rising ammonia contracts are also boosting costs, and there is strong domestic demand for mono-ammonium phosphate in South Africa. With the increase of international market demand, the export price of mono-ammonium phosphate continues to rise. The trading activity and market price trend of the global monoammonium phosphate market are mainly determined by the purchasing power of the Brazilian market for monoammonium phosphate. After 2020, the Brazilian market imports more than 4 million tons of mono-ammonium phosphate, in the first half of 2023 Brazil imports of mono-ammonium phosphate is also about half of the previous year, from the current planting season, Brazil concentrated fertilizer time around September, so the restocking operation is frequent, the price continues to rise. The promotion of international market demand and price, helping the domestic market continue to move up, the autumn sales season under the just need to stock and winter storage demand convergence expectations, in addition to the raw material phosphate under the bullish sentiment driven, making the new monoammonium phosphate factory prices are still pushing up, will remain high in the short term.
