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SunSirs: Poor Demand and DAP Continued to Fall (October 17- October 24)
October 25 2019 10:04:45SunSirs(John)

Price trend

According to the price monitoring of SunSirs, the domestic market price of diammonium phosphate fell again. On October 17, the average price of 64% diammonium was 2,416 RMB/ton. On October 24, the average price of 64% diammonium was 2,366 RMB/ton, and the price fell 2.07%. On October 24th, the diammonium phosphate commodity index was 70.59, down by 0.5 points from the day before, setting a historical low in the cycle, which was 31.45% lower than the highest point of 102.98 on October 08, 2011. (Note: Cycle refers to 2011-09-01 to date)

 

Analysis review

Products: At present, the mainstream price of 64% diammonium in Hubei is 2300-2450 RMB/ton, the mainstream price of 64% diammonium in Shandong is 23050-2500 RMB/ton, and the mainstream price of 64% diammonium in Yungui area is 2400-2500 RMB/ton, and 64% of the mainstream of diammonium in Anhui Province 2400 RMB/ton.

Industry chain: At present, the phosphate ore market as a whole maintains a stable situation. Large-scale mining enterprises continue to digest inventories. The market continues to maintain orders for old customers and maintains a small amount of purchases downstream. The supply and demand status of the domestic sulfur market has not improved, the port stocks are high, the atmosphere of negotiations is deserted, and the market is mainly negative, and the industry is waiting to see the news. The domestic liquid ammonia market fell slightly, and the market may continue to remain weak in the short term. It is mainly affected by the increase in ammonia volume after the holiday in most regions. The recent market does not rule out the possibility of continuing to explore. Downstream demand is not good, more demand for goods, trading is bleak.

Industry: according to the price monitoring of SunSirs, there are three kinds of commodities in the rise and fall list of commodity prices on October 24, 2019, among which propane (1.05%), propylene (0.53%) and styrene (0.43%) are the top three commodities. There are 16 kinds of commodities decreased on a month on month basis, and the top three products were mixed xylene (- 2.37%), organosilicon DMC (- 1.91%) and ethylene (- 1.35%). The average price of this day was - 0.15%.

 

Market outlook

Analysts of DAP of SunSirs think that the market of DAP cannot be improved without good support. The cost support is weak, and the progress of winter storage is slow. The poor export of DAP can only be reduced to domestic sales, and the market demand is poor. It is expected that the market of diammonium phosphate will continue to be sluggish in the later stage.

 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

 

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