Overview

The global phosphates market has witnessed increasing volatility, in response to military conflicts, political tensions and changing market dynamics. Price fluctuations have continued to buffet the market, with increasing demand from south and Southeast Asia the main regions driving consumption growth. Rising raw material prices and improved affordability have lifted prices once again. 

Phosphates' usage is also not solely limited to fertilizers. Battery-material suppliers are increasingly seeking to source phosphate rock and specialty phosphates-based products to meet the rapidly rising demand for lithium-iron-phosphate batteries for electric vehicle production.

Our extensive phosphates coverage includes DAP, MAP, TSP and SSP, as well as raw materials phosphate rock and phosphoric acid, with assessments also spanning feed products MCP and DCP. Argus has many decades of experience covering the phosphates market and incorporate our multi-commodity market expertise in key areas including sulphur and ammonia to provide the full market narrative.

Argus support market participants with:

  • Daily and weekly phosphates price assessments, proprietary data and market commentary
  • Short and medium to long-term forecasting, modelling and analysis of processed phosphate and phosphate rock prices, supply, demand, trade and projects
  • Bespoke consulting project support

Latest phosphate news

Browse the latest market moving news on the global phosphate industry.

Latest phosphate news
24/07/19

Indian DAP stocks fall by 430,000t in June

Indian DAP stocks fall by 430,000t in June

London, 19 July (Argus) — A major lack of DAP imports into India has caused stocks to fall by over 400,000t in June, according to Fertilizer Association of India (FAI) data, with Argus estimating stocks are currently at 2mn t. Imports have slowed considerably because of the current maximum retail price and subsidy in India, which effectively makes importing above $500/t cfr uneconomic. But global prices are way above this level. Chinese fob prices at $580/t imply landed costs close to $600/t cfr India, while neighbouring Pakistan has paid above this level over the last few days. Reports emerging from India on 18 July suggested that the government was mulling a special subsidy on DAP of 3,000-3,500 rupees/t ($36-42/t) to plug some of the shortfall. India produced 343,600t of DAP in June, imported 273,000t and sold 1.05mn t. Stock draw/build, equivalent to production plus imports minus consumption, was thus at -430,000t. Cumulative production fell by 15pc on the year to 1mn t for April-June for the kharif season so far, with imports down by 48pc at 1.12mn t, and sales also falling by 11pc to 1.93mn t. Imports are at around 376,000t, comprising tonnage from Russia, China, Saudi Arabia and Morocco, show Argus line-up data for July so far. This would bring imports for kharif so far to nearly 1.5mn t for April-July, compared to 2.7mn t in the same period of 2023. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest phosphate news

EU fertilizer industry calls for support: Q&A


24/07/17
Latest phosphate news
24/07/17

EU fertilizer industry calls for support: Q&A

London, 17 July (Argus) — As the EU gears up to install a new European Commission for 2024-2029, LAT Nitrogen's chief executive officer Leo Alders tells Argus political support remains necessary to tackle a range of challenges threatening EU industry, including subsidised US ammonia production with carbon capture, use and storage (CCUS), and the EU's 'unrealistic' goal of cutting net greenhouse gas (GHG) emissions by 90pc by 2040. But Alders sees growing political "goodwill" to help EU industry against cheap fertilizer imports from Russia, which are used to fund the country's war against Ukraine. Edited highlights follow. What does the fertilizer industry want from the next European Commission? Clear points are effectively releasing emissions trading system (ETS) funds for converting the industry to green fertilizers. We also want carbon sequestration to be allowed as it is in the US. And we need a policy on nutrient efficiency, which has never really happened. For us, too, spillage is not the desired objective. The international context, too, is important. Grey ammonia produced in Europe could move to the same cost levels as US blue ammonia with subsidised CO2 sequestration. If or when that happens, then Europe will see massive imports of US blue ammonia. We think that by 2027 or 2028, volumes coming out of the US will grow exponentially. That's a trend that we think is unstoppable. The underlying issue, of course, is that energy in Europe is at higher price levels than on any other continent. We need to stay in Europe with our production capacity. But the threat is there. Are 90pc GHG cuts by 2040 feasible for you? When discussing the ETS measures, the carbon border adjustment mechanism, and so on, we took a positive approach as an industry. And we go alon g with the zero [carbon] target for 2050. That's all right. But now the [2040] target is not official, more a desired milestone that emissions will be cut by 90pc by 2040. As an industry, we think that target is totally unrealistic and cannot support it. That's a clear point of view. Converting to a green industry will require massive capital. Technologically, it takes time to do all of this. Is the ETS working well for the fertilizer industry? Proceeds from ETS certificates go partly to national budgets and partly to the EU budget. That's all nice. But our industry needs to invest massively to complete the transition. We pay massive amounts of money for CO2 certificates. There was the promise that national and EU levels would subsidise decarbonisation projects from the ETS. In reality, we've seen very few subsidies materialising. So we actually have a counter-proposal: why not allow the industry to park the money for green investments? In theory, the national level is obliged to reinvest 50pc of ETS income back into the industry. The reality is different. Isn't the EU still wary of prohibitive €100-150/t tariffs on Russian fertilizers? A ban on Russian fertilizer imports would require unanimity. Tariffs, though, require majority support among EU states. That seems feasible. At least 15 states appear to support the idea. There is actually no supply issue. We don't have any issues replacing Russian volumes. There may be a possible time element and rebalancing in the first three or four months. But after that, the European industry would be fully capable of supplying our farms. So political support is growing? More and more people understand how Russian gas is being transformed into fertilizer. They've understood that routing gas to Europe is becoming more and more difficult. The EU has been totally unsuccessful in pushing back against Russian urea, so Russia is building some 650,000 t/yr in extra capacity, expected on line next year or thereafter. As an industry, we don't want to be shutting down units in Europe because of cheap subsidised Russian fertilizers. And then, what happens if one day Russia decides to cut or weaponise fertilizer supplies? By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest phosphate news

Australia’s IPL halts talks to sell fertilizer unit IPF


24/07/10
Latest phosphate news
24/07/10

Australia’s IPL halts talks to sell fertilizer unit IPF

Singapore, 10 July (Argus) — Australian chemicals and fertilizer producer Incitec Pivot (IPL) has stopped negotiations to sell Incitec Pivot Fertilizers (IPF) to Indonesian fertilizer producer Pupuk Kalimantan Timur (PKT). The sale fell through as both parties were unable to complete the sale in an acceptable timeframe for IPL to start their on-market buyback of up to A$900mn ($606.5mn). IPL will focus on its buyback program in the near term, it said on 10 July. IPL previously said in May that the sale of its fertilizer businesss was in "advanced negotiations". IPL's first-half 2024 earnings before interest and tax (ebit) fell by 77pc on the year to A$10mn, it said in its first-half 2024 report on 16 May. Its distribution business continues to perform well this year, while 2024 financial year production volumes at Phosphate Hill are likely to be closer to the lower end of the range of 730,000-770,000t indicated in its first-half 2024 report, the company said. By Huijun Yao Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest phosphate news

Bangladesh DAP/TSP tender offers emerge: Correction


24/07/08
Latest phosphate news
24/07/08

Bangladesh DAP/TSP tender offers emerge: Correction

Corrects the total volume of TSP offered in the fourth paragraph London, 8 July (Argus) — Bangladesh's private-sector tender for 500,000t of DAP, which closed today, drew offers from 13 traders for at least 394,000t at $645-695/t cfr for lots of 15,000-40,000t. There was also one small offer of 4,000t at $925/t cfr. Freight from China, the likeliest source of the DAP, is estimated at $30-35/t, with other associated costs at $30-55/t. This suggests the lowest netbacks to China are at around $560/t fob. It is unclear how much backing local traders have and whether Chinese producers would support offers at the low end. Bangladesh received seven TSP offers totalling 125,500t, with three specifying Moroccan or Lebanese origin. Prices ranged at $645-661/t cfr for 10,000-30,000t lots, with two traders offering 2,500-3,000t lots at $940-950/t cfr. The tender had sought 250,000t of TSP. A full list of offers and further analysis will be published in due course. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest phosphate news

Fertilizer affordability falls from May on higher urea


24/07/08
Latest phosphate news
24/07/08

Fertilizer affordability falls from May on higher urea

London, 8 July (Argus) — Global fertilizer product affordability has weakened sharply over the past two months on lower crop prices and higher urea prices following supply restrictions at key producers in Egypt. Nutrient affordability fell to 1.06 points in the first week of July, from an average of 1.24 points in May. An affordability index above one indicates that fertilizers are more affordable, compared with the base year, which was set in 2004, while below one indicates lower nutrient affordability. The decline in nutrient affordability over the past two months comes as farmers prepare to harvest grain crops in the northern hemisphere. The fertilizer index ⁠— which includes international prices for urea, DAP and potash, adjusted by global usage ⁠— reached the highest value since March, mostly driven by a jump in urea prices, which weighs heavily on the fertilizer index owing to the relatively higher global usage when compared to DAP and potash. Prices for urea surged from May into early July, supported by tight spot availability, as urea plants in Egypt were affected by gas supply constraints from mid-late May. The unplanned urea plant shutdowns in Egypt caught the market by surprise and resulted in the Middle East benchmark rising by an average of 23pc since May, to $353.5/t fob on a midpoint basis in the first week of July. But output at some urea plants in Egypt has started to resume from early this month following the restoration of natural gas supply, which should help to improve availability and provide some respite to overall supply tightness. By Lili Minton Affordability Index Regional Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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