Global Ammonium Phosphate Industry Events Review (September 3 - September 8)--Part2

Writer： MAYHARVEST Time：2022-09-11 16:16:06 /p>

China

The FOB price of DAP in China fell further this week to $755- $800 / ton due to recent operations in India and Philippines. There were reports this week that several shipments of Chinese DAP were sold to India. At least one sale to a major importer shipped in early October was at a CFR of $780 a ton, reflecting the lower end of the price range. There were other higher-priced deals earlier in the week. A trading company sold a vessel of diammonium to India at CFR prices of around $815-820 / ton, reflecting FOB prices down to $790 / ton and below.

In midweek, 8,000 tons of diammonium phosphate was sold to the Philippines through a procurement tender at a reported FOB price of about $800 / ton. But producers say the mainstream FOB price for DAP is around US $800 / ton, while the FOB price for small batches of DAP shipped by containers to Southeast Asia and Japan is in the range of US $850- US $920 / ton. The recent decline in Indian prices is expected to continue to drive down diammonium phosphate prices in China. The supplier is currently loading up to five pre-sold DAP cargoes to Bangladesh in an effort to meet the September 15 deadline.

Thailand

DAP from China is quoted FOB at US $790- US $840 / ton, with one Chinese supplier quoting CFR at around US $830 / ton. A 6,000-8,000 ton bulk carrier from South China to Thailand costs around $30 / ton. Most importers are not in the market for new goods, they are focused on clearing current inventories.

Vietnam

Due to limited export quotas, a Chinese producer has pledged to export 20,000 tons of diammonium phosphate to Vietnam through cross-border trade by the end of 2022, less than the 100,000 tons required by its agent in Vietnam. From September 10 to 18, 3,700 tons of powdered MAP will be loaded in Panjin, China, and then unloaded at HoChiMinh, and there was a freight inquiry. In the domestic market, the bagged retail price of Russian diammonium phosphate is 25,000 dong/kg ($1,060 / ton), while the bagged warehouse price of Chinese green standard diammonium phosphate is 26,600 dong/kg ($1,128 / ton). The anti-dumping duty rate on phosphate fertilizer, which includes DAP, MAP and various NP, NPK and PK products, is 1.002 million dong/ton ($42.50 / ton) and is valid until Sept 21, but the government has yet to announce any update to the policy.

Philippines

Atlas of the Philippines has won the bid to purchase 8000 tons of yellow diammonium phosphate at the price of USD 840-845 / ton CFR, which will be shipped in October. Some participants indicated that the winning price was lower than 840 CFR Atlas. The goods are likely to be loaded from South China.

Malaysia

The FOB price for small batch DAP in Malaysia is about US $850 / t F, and the FOB price for small batch 10-50 granular MAP is about US $750 / t, both in September containers.

 Indonesia

Indonesia's latest trade data showed DAP imports doubled in July from a year earlier to 34,000 tonnes, led by Chinese sources. China supplied 29,100 tons, up 74 percent year on year. The rest came from Vietnam. Imports in the January-July period rose 26 percent from a year earlier to 206,600 tons, with supplies coming from China, Russia and Jordan. Imports from China rose 24 per cent year on year to 100,800 tonnes, despite export restrictions to limit volumes. Russia and Jordan supplied 56,800 and 31,500 tonnes, respectively, compared with zero a year ago.