Dangote has sold 4 spot cargoes (for an undisclosed price) of 30kt gran urea for end-June/early-July shipment to Ethiopia
China Morning Briefing 2026-5-18
Urea: The domestic urea market continued its steady decline last week. Demand remained weak, with downstream factories purchasing only as needed and at a slower pace. Mainstream region enterprises faced pressure in terms of receiving orders, and the factory selling prices were further reduced. The industry’s inventory has entered a phase of gradual accumulation. Although the supply side has seen a decline in high levels, influenced by the sentiment of buying high and selling low, the overall trading atmosphere remains relatively subdued. It is expected that the market will remain in a weak consolidation phase in the short term.
Synthetic Ammonia: Last week, the synthetic ammonia market in major domestic production regions experienced significant declines. Demand remained sluggish, and manufacturers were more inclined to buy high and sell low. Some ammonia producers faced considerable inventory pressure, leading them to continue making concessions and selling their products. As ammonia prices declined in multiple regions, some manufacturers were on the verge of breaking even or losing money. There was a growing desire to hold prices steady. Additionally, there was an increase in the enthusiasm of downstream entities to enter the market at lower levels. It is expected that stability will prevail this week, although there may still be a possibility of further price drops in certain high-end segments.
Ammonium chloride: Last week, the focus of negotiations for new orders in the domestic market for ammonium chloride shifted slightly downward. Although ammonium chloride enterprises did not experience inventory pressure and their previous stock levels were sufficient, the operating rates of downstream compound fertilizer enterprises were low, and basic demand was constrained. However, some caustic soda–ammonia synthesis plants were idled for maintenance, leading to a tightening of supply. This provided a supportive factor for the market. Short-term changes in supply and demand were minimal, and the market may remain stagnant and stable.
Ammonium sulfate: The domestic market for ammonium sulfate saw a decline in prices last week. Due to the lack of clear information from policymakers and poor terminal transaction prices, downstream users were not very enthusiastic about placing orders, putting pressure on the prices of raw materials. Considering the previous high prices of crystals and the weakening demand, it is expected that the market will primarily experience a rational decline this week.
Phosphate Fertilizer: The domestic market for MAP experienced a moderate correction last week. The main production price in Hubei Province for 55% powder was around 4,250 yuan/ton, with actual negotiations continuing, but downstream purchasing activity remained limited. Attention should be paid to the specific implementation of sulfur supply guarantees, and operations will be observed for the time being. Last week, the domestic DAP market was characterised by cautious sentiment. While raw material prices remained high, companies were waiting for further availability of affordable sulphur. Demand was limited, and the market largely maintained a wait-and-see attitude. New orders were insufficient, and the market is expected to continue its current state of consolidation in the short term.
Phosphate Fertilizer: The domestic phosphate fertilizer market exhibited a relatively subdued trend last week. As imported phosphate continued to arrive, the inventory at ports increased significantly. Market prices fluctuated slightly, and there was greater room for negotiation. The domestic sulfate fertilizer market maintained a stable trend, with resource-based sulfate fertilizer supplies being tight, while processed sulfate fertilizer maintained a balance between production and consumption.
Compound fertilizers: The domestic compound fertilizer market showed a weak trend last week. Balanced fertilizers and high-nitrogen fertilizers saw reduced sales. As a reference, the mainstream factory price of 45% S (3*15) was around 3,200-3,500 yuan/ton. On one hand, the loosening of raw materials prompted downstream distributors to adopt a wait-and-see attitude. On the other hand, the slow progress of summer stock replenishment resulted in a generally subdued atmosphere for new order transactions. Companies continue to prioritize promoting sales in the short term. It is expected that the compound fertilizer market will maintain a narrow range of fluctuations.
-GLOBAL UREA MARKETS APPEAR TO BE HIBERNATING ON THE BACK OF THE CONTINUED CLOSURE OF THE STRAIT OF HORMUZ AND THE MAMMOTH INDIA TENDER
-PHOSPHATE MARKETS WERE LESS ACTIVE THIS WEEK, ALTHOUGH PRICES INCREASED SLIGHTLY ON THE BACK OF TIGHT AVAILABILITY AND THE CONTINUED ABSENCE OF CHINESE EXPORTS
-GLOBAL POTASH MARKETS WERE FLAT THIS WEEK
-AMMONIA MARKETS ARE TAKING A WAIT-AND-SEE POSITION AWAITING INDIA’S 521,000 MT AMMONIA TENDER ON THE 18TH OF MAY
UREA
Global urea markets appear to be hibernating, paralyzed by the Hormuz Strait closure and the aftermath of the mammoth urea tender in India.
In the Middle East, only OMIFCO, shipping from the port of SUR in the southwest of Oman, is the only active urea exporter. The latest heard offers are around USD 730 PMT FOB, but few takers are coming to attention with low-ebb activity in all major markets.
In China, declining domestic values have fueled speculation that urea exports may see the light of day in the next couple of months, or earlier, following the government-imposed export ban in December 2025. Rumors are circulating 900,000 export licenses to be issued. However, this is, of course, anyone’s guess at this time.
Iran's official urea export price is now set at USD 610 PMT FOB. This is a USD 95 PMT drop on the previous set reserve price, which attracted no serious takers due to the US blockage of Iranian ports. However, there are reports of possible leakage since a few cargos have found their way to Southeast Asian markets at either side of USD 750 PMT CFR.
North African producers are currently reluctant to engage, even though several cargoes are unsold heading into June and beyond. This, combined with no bid interest from European buyers.
Producers in Southeast Asia have been quiet, with no major business reported, though signs indicate that one or two cargoes from Brunei are headed for Australia. Pupuk Indonesia is busy handling contract tonnage, as is Petronas in Malaysia. Major buyers in the Philippines and Thailand are on the sidelines for now, unable or unwilling to engage at prevailing prices.
US/NOLA granular urea prices are showing signs of further decline. Re-export opportunities appear of interest with one rumor of a cargo destined for New Zealand at an indicative price of USD 620 PMT FOB equivalent.
All eyes are on Trump's visit to Xi in Beijing, which could lead to sanctions on Iran being partially or fully lifted. China needs Iranian oil on a continued basis, and as such, a deal could be made alongside other deal-making options.
Urea exports from Malaysia of 189,000t in March were up 37% year-on-year and the highest for the month since 2020. Total deliveries in January-March hit 558,000t, up 2% year on year and the highest for Q1 in three years. Shipments to Australia rose by 40% year-on-year to 131,000t in Q1, with half of that total loaded in March alone as the country sought alternatives to disrupted Middle East cargoes. Loadings to New Zealand and Turkey reached 84,000t and 33,000t, respectively, versus none to either country in Q1 2025. However, the reverse was the case for the USA, with virtually zero tonnes headed there this quarter versus 50,000t in the same three-month period last year.
In summary, the urea market is muted and is expected to remain so for some time. Concurrently, there are signs that prices are coming down, but not enough to entice buyers. On the flipside, if India decides to come into the market with another tender imminently, prices could get another boost.
PHOSPHATES
Spot market sentiment for phosphate fertilizers appeared to cool slightly this week, though several benchmarks still increased, and the overall outlook remains bullish due to exceptionally tight supply.
The main focus of the market this week was the unprecedented tender from India's IPL for 1.2 Mt DAP and 0.4 Mt TSP, with the importer issuing Letters of Intent (LoIs) for 1.347 Mt DAP from 13 suppliers at the L1S of $930-935/t CFR. The price is up steeply from previous business at $865/t CFR and has climbed 39% from $668-669/t CFR at the start of this year to reach the highest level since July 2022, but most market participants previously doubted whether the importer would be able to secure the full 1.2 Mt DAP, and many expected a price well above what was realized. Market participants expect India's importers to pause following the tender, with no spot buying in the next couple of weeks unless prices drop, removing a key demand driver.
Brazilian MAP buyers avoided business due to poor affordability and demand uncertainty, leaving prices capped at $900/t CFR for the fourth consecutive week; US prices remain well below global benchmarks and appear unlikely to catch up (though they increased this week); the Australian phosphates import season is effectively over; and other markets currently offer marginal demand for incremental volumes.
The market expects significant disruptions to persist through May due to the effective closure of the Strait of Hormuz. A normalization process is expected to begin in June, easing some shipping and logistical difficulties. However, the return of Chinese exports in August will be the key catalyst for price softening, with a return to more traditional fundamentals and downward price pressure from September as input costs ease and logistical issues are largely resolved.
Processed granular phosphate prices are expected to rise further in the coming months due to exceptionally tight supply. Poor affordability could limit price upside.
POTASH
Global potash prices were flat this week as buyers resisted budget increases even as potash remained the most affordable nutrient, while urea and phosphate prices surged.
In Brazil, prices held steady at $400–410/t CFR, with gMOP deals concluded largely at $405–410/t CFR. Canpotex and other suppliers are pushing offers as high as $450/t CFR for June and July, but buyer resistance above $400/t CFR remains firm. Farmers have become more cautious following the pre-Safrinha restocking, as the risk of demand destruction has risen. Several suppliers flagged tight MOP availability through August. April imports rose 7% year on year to 1.2 million tonnes, according to Global Trade Tracker data.
In Southeast Asia, prices were unchanged for the fifth consecutive week at $380–400/t CFR for sMOP (standard) and for the fourth consecutive week at $410–450/t CFR for gMOP. A gMOP (granular) deal from Jordan to Thailand was heard at $450/t CFR for May–June delivery. Demand remained subdued, with spot tenders limited to 1,000–5,000 t this week. Indonesian and Malaysian imports declined sharply year on year, down roughly one-third and 45%, respectively.
In India, contract negotiations between IPL and major suppliers remain unresolved, with the price gap the main obstacle to settlement. Suppliers are holding at $380–390/t CFR, while India’s revised offer remains around $369/t CFR. April imports surged 162% year on year to 236,500 t, with Russia supplying 89%, as buyers procured aggressively on provisional pricing terms.
Potash prices are expected to rise marginally as farmers capitalize on relative affordability.
AMMONIA
Global ammonia markets were largely subdued this week, with participants on both sides of Suez adopting a wait-and-see stance ahead of the outcome of India's IPL consortium tender for 521,000 t, closing 18 May. Activity in the Atlantic was further dampened by public holidays on Ascension Day across much of continental Europe. East of Suez, the structural supply picture remains unchanged. PAU's five-week turnaround keeps the 700,000 t/yr Indonesian plant offline until mid-June. Petronas in Malaysia is only now expected to return to operations, but the producer could not be reached at the time of writing, and Yara's Pilbara facility is understood to have extended its outage, with resumption not anticipated before early June. Against that backdrop, spot values continued to firm across East Asia, with indications in Taiwan, China reaching $850/t CFR and South Korean contract prices moving to $750-800/t CFR, narrowing the gap between the two markets as overall tightness keeps values elevated across the board.
China has continued to fill some of the supply gap, with cumulative exports reaching 367,618 t in January to May 2026, up from 48,635 t in the same period of 2025. However, the expiry of OFAC's wind-down license for Hengli's Dalian facility on 14 May introduces a layer of uncertainty into Chinese export flows at a moment when the market can least afford further disruption.
Ammonia prices are expected to remain elevated despite some softening in prices in urea markets.
*Nexus Weekly Update*
*14/05/26*
In the Far East and South East Asia, it has been a firm week, with strong enquiry levels continuing to push rates higher. There has been a wave of activity, particularly from the north, with a notable increase in backhaul cargoes, alongside demand from NOPAC. As a result, rates have continued to rise and are now at their highest levels of 2026 so far. Many charterers are having to adjust their ideas in order to get business fixed. Owners believe the momentum is likely to continue, pointing to a tightening tonnage list and further support from a strong Panamax market in the region.
The Indian Ocean market remained steady this week, although activity levels were muted due to shorter tonnage lists, with many owners continuing to avoid the area because of the war. Some inter-Gulf cargoes helped keep open vessels busy, while many ships with outbound cargoes remain delayed by the blockade. Tonnage lists in India were kept in check as firmer markets in South East Asia continued to draw ballasters away in search of stronger returns. Out of the Red Sea, a greater volume of cargoes continued to emerge for destinations including East Africa and South East Asia, with activity levels now notably higher than pre-war levels. However, workable levels still largely depended on the insurance premiums owners were able to secure.
Overall, it has been a quieter week in South Africa. Rates out of SE Asia and ECSA have been rising rapidly and are therefore becoming more attractive to owners. As a result, owners’ ideas continue to sit above charterers’ expectations, leading to limited fixing activity. Spot rates have therefore softened slightly. However, when discussing forward dates, rates continue to climb. Owners remain firm in their view that the market will eventually be pulled up by the surrounding basins and are therefore continuing to push for higher numbers on forward business.
On the Continent, activity has been slower than normal this week, partly due to the public holidays towards the end of the week. Scrap cargoes continue to provide a steady flow of enquiry, however overall cargo volumes have been thinner. In the Mediterranean, a similar story, as a lack of fresh cargo has continued to dampen rates. However there is some optimism coming out of the Black Sea with market participants expecting grain activity to increase in the coming weeks, particularly out of Ukraine, which will provide strong support to rates.
The USG remained stable this week, with a slight upward trajectory. The usual petcoke and grain cargoes continued to support the market, with grain demand expected to increase further as the week progresses. As ever when the US is strong and Cont/Med are struggling, owners begin to consider ballasting options. Yet, with the market finely balanced, there are concerns that a large influx of Med/Cont ballasters could begin to weigh heavy on the rates which may begin to fall.
The South American market had another firm week. Following improved weather conditions in the north of the continent, rates have resumed their upward trend. Increased cargo flow has pushed rates even higher this week, with sentiment remaining positive for the near term. In West Africa, the market also continued to push higher, driven largely by an increase in fertiliser cargoes following recent Indian tender activity. There has been an uptick in fronthaul activity with iron ore cargoes to China for ultramax stems. These vessels though continue to command a notable premium over smaller sizes. Looking ahead, sentiment remains firm, with expectations that rates may continue to rise in the coming weeks as the tonnage list is not expected to lengthen.
Bunker prices remained volatile this week, with Singapore currently trading around USD 825 and Fujairah at USD 875. That said, owners appear more willing to rate forward business, as the major fluctuations seen over the past fortnight have eased into smaller and more manageable swings.
Oman gran urea offered this week at USD 730 FOB
Vietnamese Prilled Urea offered out around +/- USD 710 FOB
China Morning Briefing 4th May 2026
Urea: The domestic urea market continued its downward trend yesterday. Although some low-end quotations resulted in appropriate transactions, the overall trend has not yet bottomed out. However, there have been ongoing rumours of export-related news, which have somewhat slowed the rate of decline. Short-term high-end prices continued to fall, while low-end prices remained stable.
Synthetic Ammonia: The synthetic ammonia market in major production regions continued to decline yesterday. The oversupply situation has not improved, and demand remains relatively weak. Downstream buyers tend to favour buying when prices rise rather than when they fall. Some new bids have seen continued declines in price, and manufacturers’ sentiments are poor. Due to the influence of new low prices and the lack of signs of an improvement in current demand, it is expected that the synthetic ammonia market still has room for further decline.
Ammonium chloride: The domestic market for ammonium chloride was weak yesterday. Although the prices quoted by the ammonium chloride producers were strong, sales were poor, and the volume of goods to be dispatched declined. Currently, most transactions are based on earlier contracts. Many downstream compound fertilizer manufacturers have halted production, limiting the demand for ammonium chloride. Short-term demand is unlikely to improve, and the market for ammonium chloride continues to show a weak trend.
Ammonium sulphate: The market for ammonium sulphate saw a decline yesterday. Under the dual pressures of weak end-user demand and low sentiment, the pressure on raw material factories to sell their products intensified, leading to a significant decrease in the prices of coke-grade ammonium sulphate. It is expected that the market for ammonium sulfate will continue to be weak in the short term.
Phosphate Fertilizer: The domestic market for MAP remained stable yesterday, with no changes in prices and transactions continuing to be subject to negotiations. The price of upstream sulfur has continued to rise, but the impact of subsidized sulphur from suppliers on the market has been limited. Market sentiment has remained subdued, and facilities without resource advantages have been gradually shutting down. Production has continued to decline, and there is a need for cautious observation in the short term.
The market atmosphere for DAP in China continued to be stagnant yesterday. Current demand has been limited, and the operating load of enterprises has decreased. Downstream businesses have generally remained cautious. New order transactions have been weak, and the overall trading atmosphere has appeared subdued. The market will likely remain stable in the short term.
Potash fertilizer: The domestic potash fertilizer market has maintained a stable trend. There have been no significant changes in market prices so far. However, the overall availability of chlorine-based potash is limited, and new contract transactions have been somewhat stagnant. Sulfuric acid potash manufacturers have largely maintained their earlier pricing, and the overall operating rate of their facilities remains low. The pressure on manufacturers to meet production costs is evident.
Compound fertilizers: The domestic market for compound fertilizers remained relatively stable yesterday. Some upstream raw material prices have shown signs of easing, affecting the cost side of compound fertilizers. Coupled with limited release of market demand, distributors have adopted a wait-and-see attitude when it comes to replenishing their stocks. New orders executed within the market have been somewhat sluggish, and actual transactions have been relatively flexible. For the time being, compound fertilizers continue to exhibit a narrow range of consolidation. Keep an eye on the progress of summer replenishment efforts.
China: On May 14, the industry produced 207,100 tons of urea per day, maintaining the same level as the previous working day; this represents an increase of 0.49 thousand tons compared to the same period last year. The current operational rate is 86.78%, down by 1.14% from 87.92% recorded last year.
https://timesofindia.indiatimes.com/city/bhubaneswar/iffcos-paradip-unit-stares-at-ammonia-shortage-may-stall-fertiliser-production/articleshow/131022603.cms
BANGLADESH: BCIC GRAN. UREA IMPORT TENDER – 12 MAY – TECHNO/PRICE OFFERS
SHIPMENT 40 DAYS FROM LC OPENING
MONGLA – 50,000T IN BAGS
L1-L3 Bidder $/t CFR $/t FOB '000t Origin
L1 Liven Nutrients 841.00 789.00 25.0 China/Vietnam
L2 Commodity First 899.00 838.50 25.0 Egypt/China/Vietnam
L3 Agricommodities (ETG) 989.10 969.10 50.0 Open
Total (Mongla) 100.0
Importer target 50.0
CHATTOGRAM – 50,000T IN BAGS
L1-L2 Bidder $/t CFR $/t FOB '000t Origin
L1 Liven Nutrients 839.87 788.87 25.0 China/Vietnam
L2 Commodity First 890.00 829.50 25.0 Egypt/China/Vietnam
Total (Chattogram) 50.0
Importer target 50.0
CHATTOGRAM/MONGLA – 100,000T IN BULK
L1-L4 Bidder $/t CFR $/t FOB '000t Origin
L1 West Trade International 863.85 818.85 50.0 Oman/China/Mexico
L2 DTC 844.90 794.40 50.0 Open
L3 Aditya Birla (ABGT) 795.00 775.00 25.0 Oman
L4 Agricommodities (ETG) 1,181.00 1,161.00 50.0 China/Malaysia/Qatar
Total (Chattogram/Mongla) 175.0
Importer target 100.0
China Daily Review: On May 12, the national market price of urea declined. Most upstream quotations were lowered, new contract sales were poor, effective flows continued to decrease, and the market’s pricing structure remained inverted. Industrial and agricultural demand was suppressed by market pessimism, leading to increased caution in procurement.
On May 12, 2026, the national daily production of urea was 208,300 tons, down by 60,000 tons from the previous day, with an operating rate of 83.04%. Overall, the market was experiencing weakness.
Iranian producers announced USD 610 FOB as official price this week.
China Fertilizer Industry Chain Morning Briefing 2026-5-13
Urea: Yesterday, domestic urea sales were relatively weak. Some companies’ new orders were only sporadically fulfilled. Downstream buyers have become increasingly cautious. The market trading atmosphere remains stagnant and subdued. In the short term, factories still expect to lower prices to attract orders.
Synthetic Ammonia: The synthetic ammonia market in major production regions continued to experience further price declines yesterday. Some ammonia producers have high inventory levels and continue to offer discounts to clear their stock. The market has seen new lows repeatedly, and with no signs of improved demand, downstream purchasing activity remains low, with a predominance of waiting and observation. Short-term, the market is subject to downward pressure from low-level supplies and downstream pressure, leading to expectations of further price declines. Pay close attention to whether there will be any production cuts after ammonia prices approach their cost levels and to the demand-driven situation following the deployment of ammonia storage tanks at ports.
Ammonium chloride: The domestic market for ammonium chloride experienced a relatively subdued trading atmosphere yesterday. The shutdown of some caustic soda production facilities provided support for the price of ammonium chloride. However, downstream compound fertilizer companies experienced difficulties in securing orders and saw a decline in their operational rates. The demand for ammonium chloride was constrained, and in recent days, some new contracts showed slight price fluctuations. Short-term demand remained weak, and the market for ammonium chloride continued to operate with a weak and stable trend.
Ammonium sulphate: The market for ammonium sulphate saw a steady decline over the past day. Due to unfavourable end-user prices and the lack of concrete policy-related information, market participants’ purchasing sentiment remained low. The auction prices for coke-grade ammonium sulphate primarily decreased. It is expected that the market for ammonium sulfate will continue to weaken in the short term. Keep an eye on the bidding dynamics in major production regions today.
Phosphate Fertilizer: Yesterday, the overall trading atmosphere for MAP in China was relatively subdued, with prices making minor adjustments. The main factory selling price for 55% powder in Hubei Province was around 4,250 yuan/ton, subject to actual negotiations. The prices of sulphur at ports and domestically produced sources have increased, although companies producing phosphate fertilizers have access to affordable sulphur, which has limited impact. However, the specific implementation situation remains to be observed, and the market will continue to maintain a stable trend in the short term.
The domestic DAP market continued to remain cautious yesterday. The price of raw material sulphur continued to rise, but was influenced by market news. The trading atmosphere became increasingly tense, and many downstream entities maintained a wait-and-see attitude, awaiting the announcement of new policies by enterprises. In the short term, the market will remain in a state of consolidation.
Potash fertilizer: The overall market for domestic potash fertilizer has shown no significant changes recently. Market prices have largely remained strong, but the overall availability of available stock in the market remains limited. New orders have been relatively slow to be concluded at high prices. Production of sulphuric potash is stable, with Mannheim 52% powder typically priced between 4,200 to 4,350 yuan/ton, with prices varying across different regions.
Compound fertilizers: The domestic compound fertilizer market continued its weak trend yesterday. The prices of balanced fertilizers in some major production regions continued to fluctuate. Although there was still some support from raw materials, the insufficient improvement in downstream demand led to a weak market atmosphere. To promote sales, companies often offered discounts on actual orders, resulting in lower transaction prices. For a short period, the compound fertilizer market maintained a narrow range of fluctuations.
Syria, Saudi company sign MoU to produce diammonium phosphate from oil shale.
Syria's General Establishment of Geology and Mineral Resources signed a memorandum of understanding with Saudi company SAMIROCK to develop a project to produce diammonium phosphate using oil shale.
China Fertilizer Industry Chain Morning Briefing 2026-5-13
❤Urea: Yesterday, domestic urea sales were relatively weak. Some companies’ new orders were only sporadically fulfilled. Downstream buyers have become increasingly cautious. The market trading atmosphere remains stagnant and subdued. In the short term, factories still expect to lower prices to attract orders.
❤Melamine: The melamine market in China remained generally stable yesterday. There was significant resistance from midstream and downstream players to the current pricing. New orders from manufacturers were met with a lackluster response. Some individual companies have introduced promotional pricing policies. It is expected that the melamine market will continue to exhibit moderate fluctuations in the short term.
❤Synthetic Ammonia: The synthetic ammonia market in major production regions continued to experience further price declines yesterday. Some ammonia producers have high inventory levels and continue to offer discounts to clear their stock. The market has seen new lows repeatedly, and with no signs of improved demand, downstream purchasing activity remains low, with a predominance of waiting and observation. Short-term, the market is subject to downward pressure from low-level supplies and downstream pressure, leading to expectations of further price declines. Pay close attention to whether there will be any production cuts after ammonia prices approach their cost levels and to the demand-driven situation following the deployment of ammonia storage tanks at ports.
❤Ammonium chloride: The domestic market for ammonium chloride experienced a relatively subdued trading atmosphere yesterday. The shutdown of some caustic soda production facilities provided support for the price of ammonium chloride. However, downstream compound fertilizer companies experienced difficulties in securing orders and saw a decline in their operational rates. The demand for ammonium chloride was constrained, and in recent days, some new contracts showed slight price fluctuations. Short-term demand remained weak, and the market for ammonium chloride continued to operate with a weak and stable trend.
❤Ammonium sulfate: The market for ammonium sulfate saw a steady decline over the past day. Due to unfavorable end-user prices and the lack of concrete policy-related information, market participants’ purchasing sentiment remained low. The auction prices for coke-grade ammonium sulfate primarily decreased. It is expected that the market for ammonium sulfate will continue to weaken in the short term. Keep an eye on the bidding dynamics in major production regions today.
❤Phosphate Fertilizer: Yesterday, the overall trading atmosphere for monoammonium phosphate in China was relatively subdued, with prices making minor adjustments. The main factory selling price for 55% powder in Hubei Province was around 4,250 yuan/ton, subject to actual negotiations. The prices of sulfur at ports and domestically produced sources have increased, although companies producing phosphate fertilizers have access to affordable sulfur, which has limited impact. However, the specific implementation situation remains to be observed, and the market will continue to maintain a stable trend in the short term.
The domestic diammonium phosphate market continued to remain cautious yesterday. The price of raw material sulfur continued to rise, but was influenced by market news. The trading atmosphere became increasingly tense, and many downstream entities maintained a wait-and-see attitude, awaiting the announcement of new policies by enterprises. In the short term, the market will remain in a state of consolidation.
❤Potash fertilizer: The overall market for domestic potash fertilizer has shown no significant changes recently. Market prices have largely remained strong, but the overall availability of available stock in the market remains limited. New orders have been relatively slow to be concluded at high prices. Production of sulfuric potash is stable, with Mannheim 52% powder typically priced between 4,200 to 4,350 yuan/ton, with prices varying across different regions.
❤Compound fertilizers: The domestic compound fertilizer market continued its weak trend yesterday. The prices of balanced fertilizers in some major production regions continued to fluctuate. Although there was still some support from raw materials, the insufficient improvement in downstream demand led to a weak market atmosphere. To promote sales, companies often offered discounts on actual orders, resulting in lower transaction prices. For a short period, the compound fertilizer market maintained a narrow range of fluctuations.
Iranian producers announced $610/mt as official price this week.