Phosphates prices, forecasts and analysis
The global phosphates markets have rallied in 2020, with a number of different factors shaping the increase in prices. Key destination markets India and Brazil have shrugged off initial concerns over demand in the face of Covid-19 and imports have surged compared with a year earlier. Solid agricultural fundamentals are driving buying.
The demand-side of the phosphates market has remained largely unchanged, in stark comparison with the supply-side. New capacity coming on stream in Egypt and a resurgence of output in Tunisia has enabled buyers to diversify away from traditional origins. Moroccan behemoth OCP's continued ramp-up at its Jorf Lasfar hub remains crucial to the overall direction of prices. The prospect of US import duties on Russian and Moroccan phosphates threw the market, prompting a spike in prices at Nola this summer. US DAP/MAP prices have now detached from the MAP cfr Brazil, having previously marched in step. Brazilian buyers have lost a crucial price indicator.
All of these factors have combined to emphasise the importance of continued, rigorous price assessment and timely market intelligence. Argus accurately and reliably assesses the major phosphate price points in China, India, Brazil and the US daily. Our products provide our subscribers with a comprehensive view of the market, spanning news articles and analysis, daily and weekly reports to medium- and long-term outlooks, as well as bespoke consulting services.