SunSirs: The Phosphoric Acid Market in October Initially Suppressed before Rebounding

https://www.chemnet.com   Nov 04,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the reference average price of 85% thermal phosphoric acid in China was 6,800 RMB/ton on October 1st, and 6,840 RMB/ton on October 31st. The price of thermal process phosphoric acid in China Had increased by 0.59% this month.

According to the Commodity Market Analysis System of SunSirs, the reference average price of 85% wet process phosphoric acid in China was 6,966 RMB/ton on October 1st, and 6,950 RMB/ton on October 31st. The price of wet process phosphoric acid in China had dropped by 0.24% this month.

Analysis review

The market price of thermal process phosphoric acid in October first fell and then rose. In early October, the price of phosphoric acid slightly decreased. The raw material phosphorus yellow market was stable, with average cost support. The supply and demand balance in the phosphoric acid market was mainly driven by downstream demand, with limited market transactions. In mid to late October, the market price of phosphoric acid rose. The price of raw material phosphorus yellow had increased, leading to an increase in cost support. The spot supply of phosphoric acid in the market had decreased, and the market transaction price had risen. As of October 31st, the ex factory price of 85 thermal phosphoric acid in Hubei region was around 6,850-7,000 RMB/ton, and in Sichuan region it was around 6,800-7,000 RMB/ton. The domestic market price for 85 wet process phosphoric acid was around 6,950 RMB/ton.

Raw material phosphorus yellow market: In early October, the market price of phosphorus yellow fell. The market supply was sufficient, and there was a strong wait-and-see sentiment. In mid to late October, the price of phosphorus yellow fluctuated and rose. Phosphorus yellow manufacturers had a strong reluctance to sell, and the market focus was constantly shifting upwards.

Raw material phosphate rock market: The phosphate rock market had been steadily consolidating and running at a high level this month. As of October 31st, downstream demand was good, and procurement was mainly based on demand. Phosphate mining enterprises had stable shipments and normal production and sales. It is expected that the short-term phosphate ore market will remain mainly stable.

Market outlook

The phosphoric acid analyst from SunSirs believes that the phosphoric acid market had experienced narrow fluctuations in recent days. As of October 31st, the raw material market was stabilizing, downstream procurement enthusiasm was weakening, and the market supply and demand were balanced. It is expected that the short-term phosphoric acid market will mainly experience consolidation and operation.

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