Platts to launch FOB South China, FOB China River DAP assessments; change FOB China DAP assessment Jan. 23, 2025

Platts, part of S&P Global Commodity Insights, will launch two new diammonium phosphate (DAP) assessments, FOB China River and FOB South China effective Jan. 23, 2025.

The new weekly single-number assessments will add further granularity to Platts DAP coverage in the China region.

The decision follows a proposal published Oct. 24.

Detailed specifications for the new assessments are as follows:

Assessment Name: Diammonium Phosphate FOB China River

Quality: Dark brown DAP with nitrogen content of 18%, a standard P205 content of 46%, and a maximum moisture content of 2.5%

Quantity: 45,000 mt cargoes

Location: FOB Zhenjiang

Timing: Loading 25-50 days forward

Frequency: Weekly, every Thursday

Appears in: Phosphates Report

Unit of assessment: $/mt

Timestamp: 16:30 Penang close, published according to the Penang publishing calendar

Assessment Name: Diammonium Phosphate FOB China South

Quality: Dark brown DAP with nitrogen content of 18%, a standard P205 content of 46%, and a maximum moisture content of 2.5%

Quantity: 45,000 mt cargoes

Location: FOB Fangcheng

Timing: Loading 25-50 days forward

Frequency: Weekly, every Thursday

Appears in: Phosphates Report

Unit of assessment: $/mt

Timestamp: 16:30 Penang close, published according to the Penang publishing calendar

Platts has observed a divergence in prices based on the destination of cargo, primarily due to varying specification requirements. The above specifications are particularly relevant for export to South Asian countries: India, Pakistan and Bangladesh. Information on other aspects of the DAP FOB China market -- including different colors, qualities, sizes and locations -- will continue to be considered and normalized, where necessary, to align with the standard specifications listed above.

Simultaneously, Platts will change the methodology for its existing DAP FOB China weekly range assessment (FDPCI04) effective Jan. 23, 2025. The assessment will reflect a DAP FOB China price, with the range derived from the two new assessments outlined above rather than being assessed in its own right. No other market information will be taken into account.

For example, if FOB China South is assessed at $615/mt and FOB China River at $618/mt on a given date, then DAP FOB China will be calculated as a range of $615-$618/mt.

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