From mid to late June, export prices of monoammonium phosphate (MAP) have seen a sustained rise, with FOB China prices of MAP (11-44-0) at $370-385 per ton and FOB China prices of MAP (10-50-0) at $427-446 per ton as of last Friday, which were $40 per ton and $59 per ton higher than the year's lows, respectively.
In the United States, due to low inventories, tight supply, and increased demand, which pushed up the price of monoammonium phosphate; Brazilian market in September-October soybean planting before the start of the shortening of the import time, the spot demand for monoammonium phosphate rebounded.
Driven by Brazilian demand, monoammonium phosphate prices in Latin America continued to rise, while at the same time purchases from Argentina and Paraguay also appeared. A tight supply of monoammonium phosphate in the United States also pushed up monoammonium phosphate prices further west of Suez; in addition to rising ammonia contracts, which are also cost-boosting, South Africa's domestic monoammonium phosphate purchase demand is strong. As international market demand improves, monoammonium phosphate export prices continue to rise.
Global monoammonium phosphate market trading activity and market price trends, mainly by the Brazilian market for monoammonium phosphate purchasing power to decide, after 2020, the Brazilian market monoammonium phosphate imports more than 4 million tons. From the current planting season situation, Brazil focuses on fertilizer time around September, so the replenishment operation is frequent and prices continue to rise.
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