SunSirs: Entering June, the Phosphoric Acid Market Fluctuated and Declined

https://www.chemnet.com   Jun 14,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of June 13th, the reference average price of 85% thermal phosphoric acid in China was 6,500 RMB/ton, which was a decrease of 1.52% compared to the reference average price of 6,600 RMB/ton on June 1st.

According to the Commodity Market Analysis System of SunSirs, as of June 13th, the reference average price of 85% wet process phosphoric acid in China was 6,766 RMB/ton, which was a decrease of 0.73% compared to the reference average price of 6,813 RMB/ton on June 1st.

Analysis review

Entering June, the domestic phosphoric acid market prices fluctuated and fell. As of June 13th, the market price for 85% thermal phosphoric acid in Hubei region was around 6,400-6,800 RMB/ton. The domestic market quotation for 85% wet process phosphoric acid was around 6,250-6,800 RMB/ton.

Cost side

In terms of raw material phosphorus yellow: Entering June, the price of phosphorus yellow in the market was weak and declining. The market transaction atmosphere was poor, downstream purchases were priced down, and manufacturers mainly shipped early orders. As of June 13th, bearish sentiment was dominant in the market, and it is expected that domestic phosphorus yellow prices will consolidate to be weaker in the short term.

Market for raw material phosphate rock: Recently, the market price of phosphate rock has remained stable. The inquiry atmosphere inside the phosphate rock field was mild, and the pace of phosphate rock shipments in some areas was clear, with a good mentality among the operators. It is expected that the short-term domestic phosphate rock market will remain stable with minor adjustments.

Supply and demand side

As of June 13th,, the phosphoric acid market had sufficient supply and a moderate trading atmosphere. The downstream of phosphoric acid purchased mainly on demand, and the purchasing enthusiasm was not high. The mentality of buying up instead of buying down has increased, and the terminal demand needed to be improved. Manufacturers and distributors can flexibly adjust prices, with a single negotiation being the main focus.

Market outlook

SunSirs' phosphoric acid analyst believes that the phosphoric acid market has been operating weakly recently. As of June 13th, there was insufficient support from costs and demand, and the market was mainly bearish, making it difficult for the short-term market to improve. It is expected that the short-term phosphoric acid market price will continue to consolidate to be weaker. It is recommended to pay attention to changes in the raw material market.

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