Phosphate markets are showing increasingly divergent trends, with prices in some regions edging higher while others continue to trade within established ranges. Overall activity remains measured, but firmer offers in selected markets reflect tightening availability and improving demand visibility rather than speculative momentum.

Recent price assessments have been shaped by a mix of logistical trades, barge movements and limited spot imports. Sellers in several regions have raised or maintained firm offers, supported by stable upstream costs and constrained import flows. At the same time, buyers remain selective, pacing purchases in response to weather, logistics and financing considerations, which has kept broader trading volumes in check.

Demand is expected to build seasonally, though the recovery is uneven across regions. Many buyers continue to favour hand-to-mouth coverage and smaller parcels, but the willingness to accept higher prices in certain markets suggests downside risks are diminishing. With supply discipline largely intact, phosphate prices are increasingly consolidating around firmer levels where demand is emerging.