- Phosphorus: the market average price rises to CNY24,750/t(+550/t), soars to one year high. The increasing demand stimulated the P4 market to continue to hold prices steady. However, in the latter part of the week, the bidding results have continuous declines. Under the dual pressure of a slight weakening of futures prices and low spot price negotiations, suppliers have insufficient confidence in stabilizing prices and market offers fall back.
- Iron Phosphate: the market price remains relatively stable in range of CNY10,200-11,000/t, most in DDP term. The downstream LFP price keeps down going, pricing between CNY32,600-34,100/t.
- Urea: the dealt price is CNY1,850-1,900/t in Shangdong. The daily volume is steady at 194.4kt. In-factory typical inventory is 833.7kt(+79.5kt). The port typical inventory is 1119kt(-1kt). The compound fertilizers operation rate is 54.5%(+1.5%). Urea prilled FOB costs USD277/t(+12/t). Amsul price surges to CNY1,035/t in the past 2 weeks, as supply tends to tight and spot goods are insufficient.
- Potash: KCl supply is better as the national reserves keep releasing. Traders follow to sell goods amid price falling fears. Now the market avg. price is CNY2,992/t(-94/t). While the buy side start to hesitate in a bearish sentiment, unless it’s a concrete demand.
- MAP/DAP: agri. grade production cost is still high, while demand side remains sluggish. TMAP price is stable at CNY6,500/t level, EXW.
- SCFIis 1,395(+38) and CCFI is 1,107(-0.4%). As Trump pauses reciprocal tariffs for 90 days, exporters and importers would hurry to finish the delivery when the window is still open. Freight may rise in the short term.
