SunSirs: The Phosphoric Acid Market Trend Was Narrowly Adjusted (October 21-28)

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

Price trend

According to the Commodity Market Analysis System of SunSirs, as of October 28th, the reference average price of 85% industrial grade phosphoric acid in China was 6,790 RMB/ton, which was 0.15% higher than the reference average price of 6,780 RMB/ton on October 21st.

According to the Commodity Market Analysis System of SunSirs, as of October 28th, the reference average price of 85% wet process phosphoric acid in China was 6,950 RMB/ton, which was stable compared to the reference average price of 6,950 RMB/ton on October 21st.

Analysis review

Market aspect

As of October 28th, the ex factory price of 85% thermal phosphoric acid in Hubei region was around 6,850-7,000 RMB/ton, and the ex factory price of 85% thermal phosphoric acid in Sichuan region was around 6,750-7,000 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,950-7,050 RMB/ton.

In terms of cost

In terms of raw material phosphorus yellow: This week, the market price of phosphorus yellow showed a strong upward trend. The market supply decreased, and phosphorus yellow enterprises had raised their quotations, shifting the focus of transactions. Downstream on-demand procurement remained cautious towards high priced phosphorus yellow.

Raw material phosphate rock market: This week, the phosphate rock market was stable, with a relatively balanced supply and demand, and the market was mainly driven by essential needs. It is expected that domestic phosphate rock prices will remain stable in the short term.

Supply and demand side

This month, the supply of phosphoric acid in the market was still acceptable, and downstream procurement was mainly based on demand, with cautious procurement. As of October 28th, the supply and demand were relatively balanced, and there was no significant fluctuation in the market situation.

Market outlook

SunSirs’ phosphoric acid analyst believes that the phosphoric acid market had been consolidating and operating recently. The price of raw material phosphorus yellow had increased, leading to an increase in cost support. Downstream demand was dominant, and the market tended to adopt a wait-and-see attitude with few new orders. It is expected that the market price of phosphoric acid will experience a narrow consolidation in the short term.

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