Diammonium Phosphate (DAP) FOB Qingdao sustained a sturdy 6-week bullish trend through late August 2025. Despite muted movement, the market remains influenced by strong agricultural demand across South and Southeast Asia, cautious sentiment surrounding China’s export quotas, and steady production margins supported by stable feedstock costs. International buyers continue consistent offtake, though weather disruptions and quota uncertainties are tempering more aggressive momentum.
Key Highlights
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DAP FOB Qingdao pricing stalled at USD ***/MT for the late second half of August ****.
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Agricultural demand in Hunan, Jiangxi, and Guangdong remained solid throughout this year transplanting season.
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Export flows to Bangladesh, India, and Japan continued to flow for DAP.
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After the recent typhoon logistics, port operations fully caught up and vessel wait times improved to two days.
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The *-week moving average DAP price is USD ***/MT; an aspect that is also sustaining bullish momentum.
From a demand perspective Chinese DAP exports were still strong with steady flow through to Bangladesh, India, and Japan. Bangladesh’s recent tender is expected to soak up a good portion of Chinese DAP, and India’s pricing resistance was above recent benchmarks and looking at ways to source alternative DAP products. Japan had stable DAP tonnages going in and continues to have practical seasonal agricultural...
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