SunSirs: In Early September, the Phosphoric Acid Market Was Stronger and Rose (September 1-10)

https://www.chemnet.com   Sep 12,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of September 10th, the reference average price of 85% industrial grade phosphoric acid in China was 6,770 RMB/ton, which was 1.96% higher than the reference average price of 6,640 RMB/ton on September 1st.

According to the Commodity Market Analysis System of SunSirs, as of September 10th, the reference average price of 85% wet process phosphoric acid in China was 6,983 RMB/ton, which was 1.95% higher than the reference average price of 6,850 RMB/ton on September 1st.

Analysis review

The domestic phosphoric acid market rose in early September. As of September 10th, the delivery price of 85% industrial phosphoric acid in Hubei region was around 6,850-7,000 RMB/ton, and the ex factory quotation of 85% thermal phosphoric acid in Sichuan region was around 6,850 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,983 RMB/ton.

Cost side

In terms of raw material phosphorus yellow: This week, the price of phosphorus yellow in the market had risen, and market sentiment was high. Manufacturers' quotes were firm, and specific transaction negotiations were the main focus. It is expected that the short-term phosphorus yellow market will continue to consolidate and operate at a high level.

Raw material phosphate rock market: This week, the market price of phosphate rock had been operating at a high level, with tight supply in some areas. The main focus was on issuing preliminary orders. 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, and some wet process phosphoric acid units had been shut down for maintenance and had not been restored. The market supply had decreased, and there was positive support from the supply side. Pre holiday downstream stocking was active, and temporarily the supply and demand of the phosphoric acid market were balanced.

Market outlook

The phosphoric acid analyst from SunSirs believes that the phosphoric acid market has stabilized after the recent rise in prices. As of September 10th, the raw material market was strong at a high level, with strong cost support, and the spot market was still tight. It is expected that the short-term phosphoric acid market prices will mainly operate to be stronger.

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