The ICIS Phosphates Fertilizers Report is published weekly in Europe. This reliable weekly price report contains price assessments for diammonium phosphate (DAP) in the US Gulf and north Africa, triple superphosphate (TSP) in north Africa and phosphate rock in Morocco. There is also a monthly price forecast and analysis publication, The Outlook: Phosphates, and more intelligence on phosphates can be found in the global coverage of the weekly publication The Market.
These up-to-date and trustworthy publications are an essential business tool to help you make informed decisions.
Updated to Q4 2020
Asia
Phosphates supply in the fourth quarter was tight from some regions. Saudi producers were busy shipping to Brazil, Australia, the US and India. Chinese and Australian producers supplied cargoes to India and Pakistan and DAP prices edged upwards. Russian producers focused on European demand and did not have much product for Asian markets. Also, GCT’s production was at low rates for most of the quarter due to a lack of phosphate rock supply following civil unrest and sit-ins.
Demand for phosphates in Asia was up, especially in India and Pakistan. Indian buyers particularly were in the market looking for cargoes, as DAP offer prices were low. Requirements have been covered by previous purchases and stocks in the country are high. However, buyers were looking for cargoes for Q1. Moreover, the settlement of the phosphoric acid Q4 contract price at an increase for the fourth time in a year made it cheaper to import DAP rather than produce it domestically using phosphoric acid.
Europe
Supply to Europe was stable in Q4, as there were no major turnarounds in most producers. Russian producers continued to ship product to the continent, as demand in most other regions was muted. Product from Morocco and Egypt was steadily arriving in Europe and producers increased their offer prices at the end of the quarter. Only GCT had issues with phosphate rock supply due to civil unrest and availability was intermittent.
Demand for phosphates was strong as buyers prepared for the next season and spring application. There was also an increase in imports to western Europe, with product from Russia, Morocco, Egypt and Jordan arriving. Buyers were looking to make purchases and replenished stocks, as they did not buy much product in 2020 due to adverse weather conditions and also a delay in logistics due to the coronavirus pandemic.
US
Supply stayed constant as domestic production stayed consistent. Imports continued to be limited as the countervailing duty investigations concerning imports of products from Morocco and Russia continued to advance. With the US Department of Commerce issuing preliminary duty determinations late in the quarter.
There was a brief surge in demand early in the quarter as end users looked to replenish volumes and grab any more available supply as values continued to climb. Yet as harvest ended, and winter conditions came on stronger, the amount of demand quickly dipped with any additional needs being deferred to the spring.
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