On December 19th, the Vietnam Chemical Group DAP Co., Ltd.'s Phosphorus Enhancement and Annual Output of 60,000 Tons of MAP Fertilizer project, undertaken by China National Chemical Engineering Corporation's Eastern Hua Engineering Technology Co., Ltd., was inaugurated in Haiphong City, Vietnam. PriceSeek assessed the phosphorus market, scoring a -1 for the project involving phosphorus enhancement, indicating that the commencement ceremony signifies an increase in future supply, potentially leading to downward pressure on spot prices due to increased competition. The reason is that the new capacity launch will boost market supply volume, exacerbating competition, generally favoring bearish sentiment towards spot prices for phosphorus. For Monoammonium Phosphate (MAP), the score is also -1, reflecting the annual output of 60,000 tons of MAP fertilizer project's initiation, which expands market supply and negatively impacts spot prices. The reason is that capacity expansion directly increases the supply of Monoammonium Phosphate, expecting a price drop, generally favoring bearish sentiment towards this product.
Comments
0