December 26th News
On December 19th, the groundbreaking ceremony for the phosphoric acid quality improvement and 60,000-ton-per-year MAP fertilizer project of Vietnam Chemical Group DAP Joint Stock Company, contracted by Donghua Engineering Technology Co., Ltd., a subsidiary of China National Chemical Engineering Group, was held in Haiphong City, Vietnam.
Chempricehub Analysis:
Phosphoric Acid, Bull-Bear Score: -1
The project involves phosphoric acid quality improvement, and the groundbreaking ceremony indicates future supply increases, which may lead to downward pressure on spot prices.
Reason: New capacity coming online will boost market supply, intensify competition, and is generally bearish for phosphoric acid spot prices.
Monoammonium Phosphate (MAP), Bull-Bear Score: -1
The launch of the 60,000-ton-per-year MAP fertilizer project expands market supply with new additions, negatively impacting spot prices.
Reason: Capacity expansion directly increases MAP supply, with expectations of price declines, generally bearish.
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