SunSirs: Cost Supported, Phosphoric Acid Market Prices Rose (August 19-26)

https://www.chemnet.com   Aug 27,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of August 26th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6,560 RMB/ton, which was 0.15% higher than the reference average price of 6,550 RMB/ton on August 19th.

According to the Commodity Market Analysis System of SunSirs, as of August 26th, the reference average price of 85% wet process phosphoric acid in China was 6,816 RMB/ton, which was 0.99% higher than the reference average price of 6,750 RMB/ton on August 19th.

Analysis review

The domestic phosphoric acid market had risen this week. As of August 26th, the ex factory price of 85% thermal phosphoric acid in Hubei region was around 6,500-6,700 RMB/ton, and the ex factory price of 85% thermal phosphoric acid in Sichuan region was around 6,600 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,800-6,900 RMB/ton.

Cost side

In terms of raw material phosphorus yellow: This week, the market price of phosphorus yellow had risen, and manufacturers had a strong willingness to raise prices. As of August 26th, the supply and demand were relatively balanced, with limited new orders in the market and average market trading. It is expected that the phosphorus yellow market will consolidate and operate in the short term.

Raw material phosphate rock market: This week, the market price of phosphate rock had been running steadily, with the main focus on early orders. As of August 26th, the market supply and demand were balanced, and there was a shortage of supply in some areas. It is expected that domestic phosphate rock prices will remain stable in the short term.

Supply and demand side

This week, the spot supply of phosphoric acid in the market remained tight, with some wet process phosphoric acid plants shutting down and market inventory decreasing, providing favorable support for the supply side. Downstream demand was still acceptable, procurement enthusiasm had slightly increased, and the market transaction atmosphere had improved.

Market outlook

SunSirs' phosphate analyst believes that the phosphate market had stabilized after a slight increase in recent days. As of August 26th, the raw material market was relatively strong and consolidating, and costs still had support. The market supply and demand situation was good. It is expected that the phosphoric acid market will mainly experience price consolidation in the short term.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

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