In India, the Phosphoric Acid market remained largely stable as buyers maintained routine procurement and suppliers balanced available cargoes with steady downstream fertilizer demand. FACT issued a fresh tender for merchant-grade phosphoric acid delivery to Kochi during May, following an earlier tender that was likely unsuccessful, indicating cautious buying interest and controlled prompt availability. The DAP import lineup remained limited compared to previous years, but buyers continued to resist aggressive offer revisions, helping keep the domestic Phosphoric Acid market balanced.
In contrast, China witnessed firmer market conditions as stronger phosphate rock values and improving downstream fertilizer demand supported bullish sentiment. Upstream phosphate rock supply remained tight, while higher sulfur and ammonia costs increased production expenses for downstream phosphate producers. Improved seasonal demand from fertilizer manufacturers also encouraged firmer supplier positioning and reduced willingness to offer discounts.
Across the region, rising sulfur costs and elevated freight expenses...
