DAP (diammonium phosphate) prices remained muted in recent months and last week wasn’t an exception. Falling phosphate prices remain a weak spot for producers (MXI)—PotashCorp (POT), Mosaic (MOS), Israel Chemicals (ICL), and Agrium (AGU). Let’s look at how prices trended in the week ending September 1, 2017.
Weekly price momentum
Last week, overall DAP prices were broadly flat to negative week-over-week at the above four locations. Last week, DAP prices at NOLA (New Orleans) fell by as much as 31 basis points week-over-week to $290 per metric ton from $291 per metric ton a week ago. The prices at this location were 1% lower YoY (year-over-year) from $293 per metric ton.
On the other hand, DAP prices at Central Florida remained flat week-over-week to $299 per metric ton. Prices at this location have also remained flat compared to the levels in the same week last year. Prices at Tampa Bay moved sideways week-over-week to $336 per metric ton, while the prices at this location fell 1% YoY from $339 per metric ton.
Moving outside North America, DAP prices in Morocco fell by 57 basis points week-over-week to $247 per metric ton from $349 per metric ton. Morocco has the largest phosphate rock reserve. The prices at Morocco were also flat YoY.
In the next part, we’ll discuss monoammonium phosphate prices.