- Phosphoric acid: P.A. price is CNY6,730/t (-150/t) for H.P., CNY6,950/t for W.P. Market demand is not strong, price is going down.
- Urea: the dealt price is CNY1,820-1,860/t in Shangdong. The weekly volume is 1,425.5kt(+30.8kt), operation rate 88.56%. In-factory typical inventory is 917.4kt(+100kt). The port typical inventory is 203kt(+40kt). The compound fertilizers operation rate is 37.6%(-2.7%). Urea FOB costs USD355/t(-2.5/t). Amsul price is CNY1,035/t.
- Potash: KCl avg. price is CNY2,956/t(+55/t), market demand is weak. SOP costs CNY3,850/t. NOP and MKP price is relatively steady.
- Phosphorus: P4 market price drops to CNY22,500/t(-600/t). The market lacked confidence in the past weeks, and downstream products were not selling well. The buy side took the opportunity to press down offers, some small factories gave discounts to close the deal. After several weeks tepid, trading volumes are coming up as price meets the buyers’ ideal target. The weekly production volume is 19.4kt.
- MAP/DAP: phosphorus fertilizers export window is open. TMAP CIQ starts now and shipment can be arranged in June. CIQ timing is 2-3 weeks.
- SCFI is 1,586(+107) and CCFI is 1,107(+0.2%). The freight market is warming as exporters need to rush for shipments when the window opens. Most shipping lines have confirmed plan to rise freight in June.
- USD:CNY: USD index is low again, suppliers from China fears USD further depreciation, it makes the USD offers conservatively with a lower currency exchange rate.
