SunSirs: The Phosphoric Acid Market Fluctuated and Rose in August

https://www.chemnet.com   Aug 30,2024 SunSirs

Price trend                               

According to the Commodity Market Analysis System of SunSirs, the reference average price of 85% industrial grade phosphoric acid in China was 6,480 RMB/ton on August 1st, and 6,640 RMB/ton on August 30th. The price of industrial grade phosphoric acid in China had increased by 2.47% this month.

According to the Commodity Market Analysis System of SunSirs, the reference average price of 85% wet process phosphoric acid in China was 6,716 RMB/ton on August 1st, and 6,850 RMB/ton on August 30th. The price of wet process phosphoric acid in China had increased by 1.99% this month.

Analysis review                      

The market price of phosphoric acid fluctuated and rose in August. In the first half of August, the price of phosphoric acid slightly increased. The raw material phosphorus yellow market first rose and then fell, and the cost support was still acceptable. The supply of phosphoric acid in the market was tight, and there was some support on the supply side. In the second half of August, the price of phosphoric acid rose rapidly. The price of raw material phosphorus yellow continued to rise, increasing cost support. The market supply and demand situation was good, and the market transaction atmosphere had improved. As of August 30th, the ex factory price of 85% industrial grade phosphoric acid in Hubei region was around 6,750-6,900 RMB/ton, and in Sichuan region it was around 6,650 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,700-6,900 RMB/ton.

The market price of raw material phosphorus yellow had fluctuated and risen this month. The supply in the spot market was tight, and manufacturers were reluctant to sell, resulting in a shift in the focus of market transactions. Downstream procurement was based on demand, adopting a wait-and-see attitude towards high prices. It is expected that the domestic phosphorus yellow market will consolidate and operate at a high level in the short term.

Market outlook

SunSirs' phosphoric acid analyst believes that the phosphoric acid market had been rising recently. As of August 29th, the high level of raw material phosphorus yellow was being consolidated, and the supply of phosphoric acid in the market remained tight. It is expected that the short-term phosphoric acid market will continue to operate to be stronger.

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

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