SunSirs: Narrow Adjustment, Phosphoric Acid Prices Slightly Increased (August 1-7)

https://www.chemnet.com   Aug 08,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of August 7th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6,490 RMB/ton, which was 0.15% higher than the reference average price of 6,480 RMB/ton on August 1st.

According to the Commodity Market Analysis System of SunSirs, as of August 7th, the reference average price of 85% wet process phosphoric acid in China was 6,750 RMB/ton, an increase of 0.50% compared to the reference average price of 6,716 RMB/ton on August 1st.

Analysis review

This week, the domestic phosphoric acid market had been in a state of price stagnation and consolidation. As of August 7th, the ex factory price of 85% thermal phosphoric acid in Hubei region was around 6,350-6,600 RMB/ton, and the ex factory price of 85% industrial phosphoric acid in Sichuan region was around 6,400-6,600 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,750 RMB/ton.

Cost side

In terms of raw material phosphorus yellow: This week, the supply of phosphorus yellow in the market was tight, and market prices had risen. Phosphorus yellow enterprise owners had issued preliminary orders. The enthusiasm for downstream procurement had increased, market transactions had improved, and enterprises were mainly reluctant to sell. It is expected that the short-term phosphorus yellow market will continue to remain strong.

Raw material phosphate rock market: This week, the price of phosphate rock market had been running steadily, with tight supply in some areas and stable market demand. Downstream demand remained mainly driven by essential purchases. It is expected that domestic phosphate rock prices will remain stable in the short term.

Supply and demand side

This week, the supply and demand of the phosphoric acid market had been weak. The spot supply of phosphoric acid was tight, and market inventory was limited. The terminal demand was relatively weak, with downstream replenishment was mainly on demand, and the market transaction atmosphere was average.

Market outlook

SunSirs’ phosphoric acid analyst believes that the phosphoric acid market had been consolidating after the recent rise in prices. The price of raw material phosphorus yellow increased, leading to an increase in cost support. Downstream procurement was more cautious, with a focus on low price transactions. It is expected that the market price of phosphoric acid will experience a narrow consolidation and operation in the short term.

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