DAP/MAP price pressure persists as Chinese cut production

摘要

DAP/MAP prices extended recent declines in some markets this week on subdued demand, though a decision to curtail DAP production in China could be the catalyst for stable prices in the near-term. A group of Chinese DAP suppliers representing around 70% of country-wide capacity agreed to a third-quarter production cut of 30-40% on planned output, or roughly 800,000 t-1.0 Mt. This follows a similar agreement in Q2 from Chinese suppliers in a failed attempt to stop price declines.