For the week ending September 15, DAP (diammonium phosphate) prices were broadly flat to positive. Three out of the four locations covered below saw a positive movement in prices week-over-week. Producers’ (MXI) phosphate segments like Mosaic (MOS), Israel Chemicals (ICL), PotashCorp (POT), and Agrium (AGU) came under pressure due to weak momentum in phosphate prices. Last week, the positive momentum in DAP prices offered hope.
DAP prices in the Central Florida region rose as much as 4.2% week-over-week to $312 per metric ton from $299 per metric ton a week ago. YoY (year-over-year), DAP prices at this location are 5% higher from $296 per metric ton in the same week in 2016.
Last week, Hurricane Irma wrecked havoc in Florida. There was a steep climb in DAP prices. The market tried to assess DAP’s availability at this location.
In the NOLA (New Orleans) region, DAP prices also rose last week. DAP prices rose 2.2% week-over-week to $295 per metric ton from $288 per metric ton. Last week, the DAP prices at this location only rose 1% YoY.
In the Tampa Bay region, DAP prices were broadly flat week-over-week to $334 per metric ton, while they fell 1% YoY.
Morocco, which has the largest phosphate rock resource, saw a 3.3% rise in DAP prices to $348 per metric ton from $337 per metric ton a week ago. In this region, DAP prices were almost flat YoY.
Next, we’ll discuss the weekly price movements for MAP prices.