2024 FOB Price Trends at Chinese Ports – Monoammonium Phosphate (MAP 12-61-0)

In 2024, the FOB prices for Monoammonium Phosphate (MAP 12-61-0) at Chinese ports showed significant fluctuations.

Overall, prices remained relatively stable at the beginning of the year, surged to the annual peak of $930/ton in June, and then gradually declined, reaching $820/ton in August. From September onward, prices rebounded and stabilized around $860/ton by December.

From May to June, Tech-grade MAP prices in China experienced a sharp increase.By mid-May, FOB prices skyrocketed from $780/ton to $840-860/ton within two weeks, marking an 8% increase. By June, prices further climbed to $930/ton. This was mainly due to low inventory, surging demand, and growth in the new energy sector.

• Low Inventory and Rising Demand for Water-Soluble Fertilizers:

  
  

  Since February, China's Tech-grade MAP inventory has sharply declined. By May 10th, inventory levels had plummeted to 3,300 tons, a reduction of 87.7% compared to the beginning of the year, reaching historic lows.
  

  Meanwhile, demand for water-soluble fertilizers surged during the peak season. With their advantages of high efficiency, water conservation, and environmental benefits, water-soluble fertilizers saw strong demand in economic crops, horticulture, and landscaping sectors, further boosting the need for Tech-grade MAP.
  

• Strong Demand from the New Energy Sector:

  
  

  The rapid growth of new energy vehicles and the energy storage industry has significantly increased the production of lithium iron phosphate (LFP) batteries.

  
  

  In 2023, China's LFP battery production grew by 77.3% year-on-year, and by April 2024, it surged 92.5% year-on-year. As a critical raw material in LFP battery production, the demand for Tech-grade MAP increased significantly, further supporting the price surge.
  

• January-April: After CIQ resumed in mid-March, prices stabilized at FOB $820-850/ton.
  

• May-June: Driven by low inventory and strong demand from the new energy sector, FOB prices surged to $930/ton.
  

• July-August: Prices gradually declined, hitting the lowest point of approximately FOB $820/ton.
  

• September-December: Prices rebounded and stabilized around FOB $860/ton, with exports stopping on December 1st.
  

Kelewell continues to provide high-quality Monoammonium Phosphate and other chemical raw materials to global customers, closely monitoring market trends to ensure a stable and efficient supply chain.

Contact: info@kelewell.de

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