Price trend

According to data monitoring by SunSirs, as of May 24, 2024, the reference average price of 30% grade phosphate rock in China was around 1,048 RMB/ton. Compared with the reference price of 1,042 RMB/ton on May 1st, the price had increased by 6 RMB/ton, an increase of 0.58%.

Analysis review

From the commodity market analysis system of SunSirs, it can be seen that this week, the overall domestic phosphate rock market had been operating at a high level of consolidation. During the week, the phosphate rock market remained stable, and the recovery of downstream ammonium phosphate and terminal phosphate fertilizer markets provided overall demand support for phosphate rock. Some mining enterprises in certain regions had tight supply, and the supply side also performed well. The overall supply and demand transmission in the phosphate rock field was smooth. As of May 24th, the domestic market price for 30 grade phosphate rock was around 1,030-1,100 RMB/ton. The specific price varied depending on factors such as the original ore specifications and powder to block ratio, and the specific price needed to be negotiated based on actual orders.

Downstream ammonium biphosphate: This week, the domestic ammonium biphosphate market as a whole showed an upward trend. On May 24th, the reference average price of ammonium biphosphate in the domestic market was 3,016.67 RMB/ton, an increase of 5.72% compared to May 1st (2,853.33 RMB/ton). As of May 24th, the demand for ammonium biphosphate in the market had increased, and most manufacturers had suspended or restricted orders. The trading atmosphere was good, and the price was relatively stronger.

Market outlook

As of May 24th, the trading atmosphere inside the phosphate rock field had been mild, and the supply and demand sides had provided stable market support. According to the phosphate rock data analyst from SunSirs, in the short term, the domestic phosphate rock market will mostly operate steadily with a stronger bias, and the specific trend still needs to pay more attention to changes in supply and demand news.

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