The ammonium phosphate market remains stable and consolidates.

1. Today's Summary

① The monoammonium phosphate (MAP) market remains stable with a wait-and-see attitude.
② Market sentiment in the diammonium phosphate (DAP) sector is under pressure.

2. Spot Market Overview

Table 1: Closing Prices of Domestic Ammonium Phosphate Markets (Unit: RMB/ton)

Today, the domestic MAP market showed little overall fluctuation. Although market sentiment improved slightly and quotes attempted to rise, actual transactions remain subject to negotiation. In Hubei, ex-factory quotes for 55% powder are around 3,650 RMB/ton, with some sporadic higher offers. However, downstream compound fertilizer demand continues to adopt a wait-and-see approach. While a few traders intend to replenish stocks, trading volumes remain limited.

Based on the Hubei region, today's ex-factory price for 64% DAP is approximately 4,600–4,800 RMB/ton, with actual orders still under negotiation. The domestic DAP market is characterized by stalemate and caution. Most producers have yet to announce clear new pricing policies. Market activity in Northeast China has started slowly; impacted by low-priced supplies, this has affected market sentiment and further intensified the wait-and-see attitude. Overall trading is stagnant, with limited new contract closures.

3. Production Dynamics

MAP production volume was 138,100 tons, a decrease of 4,800 tons from the previous week, representing a drop of 3.36%. Capacity utilization stood at 34.36%, down 1.19 percentage points from the previous week.

DAP production volume was 165,100 tons, a decrease of 8,800 tons from the previous period, representing a drop of 5.06%. Capacity utilization stood at 33.97%, down 1.81 percentage points from the previous period.

4. Price Forecast

MAP: At present, there is significant divergence in market views. In the short term, the market is likely to maintain a stalemate and competitive dynamic.

DAP: The wait-and-see atmosphere remains heavy. Enterprise policies for new orders are not yet clear. In the short term, the DAP market is expected to trend weakly downward.

5. Related Products Status

1. Phosphate Rock: The phosphate rock market remained generally stable. In Hubei, quoted prices for 28% ore (barge/board basis) were 870–950 RMB/ton, with actual transactions negotiated individually.
2. Sulfur: The mainstream reference spot price for solid granular sulfur at Zhenjiang Port in the Yangtze River region was 4,900 RMB/ton, up 50 RMB/ton from the previous day.
3. Synthetic Ammonia: Mainstream ex-factory prices in the Hubei market ranged from 2,390–2,480 RMB/ton, unchanged from the previous day.

6. Data Calendar

Table 2: Domestic Ammonium Phosphate Market Data Overview (Unit: 10,000 tons)