Today's fertilizer price trend analysis, latest market overview

Urea: Prices slide in many regions

This week the urea market saw weak trading, with prices falling in many regions. Few enterprises reduced production for maintenance, and the urea operating rate basically remained above 60%. According to statistics, this week the average ex-factory price of large-granule urea was 1682 yuan/tonne, down 1.47% week on week, and up 32.65% from the same period last year; the average ex-factory price of small-granule urea was 1694 yuan/tonne, down 1.28% week on week, and up 22.66% from the same period last year.

Phosphate ammonium: Weak demand

This week domestic monoammonium phosphate demand was weak, and the number and pace of new order transactions declined noticeably. Diammonium phosphate enterprises kept their quotes firm and are currently executing earlier low-priced orders; the new prices lack support from actual transactions, so current quotes carry little reference value for the market. According to monitoring, this week the average ex-factory price of 55% powdered monoammonium phosphate was 1857 yuan/tonne, down 1.33% week on week; the average wholesale price of 55% powder was 1962 yuan/tonne, down 0.91% week on week. This week the average ex-factory price of domestic 64% diammonium phosphate was 2475 yuan/tonne, flat week on week. The average ex-factory price in the same period last year was 2475 yuan/tonne, flat year on year.

Potash: Light trading

This week overall trading in the potassium chloride market was light, and social inventory remained on the high side. At some ports, previously booked cargoes arrived one after another; pressed to turn stocks into cash, traders' actual quotes stayed stable but still showed some easing. As of this Friday, the mainstream quote for 62% Russian white potassium chloride at ports was 2050-2080 yuan/tonne, while actual transaction prices in the northern market were mostly around 2030 yuan/tonne. At southern ports, potash quotes edged down by 20-30 yuan/tonne this week, with the mainstream quote for Russian red potassium chloride at 1960-1980 yuan/tonne. It was learned from the market that the price for large-volume purchases has fallen to 1940-1950 yuan/tonne, basically on par with quotes at northern ports. For domestic potash, the ex-warehouse price of 60% potassium chloride in various regions was 1920-1930 yuan/tonne; the mainstream delivered price of Guoan 57% potassium chloride was 1720-1730 yuan/tonne.

Compound fertilizer: Broadly stable with slight gains

This week compound fertilizer enterprises' quotes were broadly stable with slight gains; in some regions, driven by market demand, quotes for certain compound fertilizer formulations were raised slightly. As the "late spring cold" ended, agricultural demand for compound fertilizer gradually started, and most compound fertilizer enterprises maintained a relatively high operating level. According to monitoring, this week the average ex-factory price of compound fertilizer was about 2176 yuan/tonne, up 0.13% from last week. This week the average operating rate of compound fertilizer enterprises was about 54.74%, up 0.74% from last week.

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Editor for this issue: Xiao Jiang'er