Price trend  

According to the Commodity Market Analysis System of SunSirs, as of September 29th, the reference average price of 85% industrial grade phosphoric acid in China was 6,800 RMB/ton, which was 2.41% 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 29th, the reference average price of 85% wet process phosphoric acid in China was 6,966 RMB/ton, which was 1.70% higher than the reference average price of 6,850 RMB/ton on September 1st.

Analysis review

In September, the domestic phosphoric acid market prices showed a strong upward trend. In the first half of September, the phosphoric acid market showed an upward trend due to rising costs and tight supply. In the second half of September, the market price of phosphoric acid remained stagnant and mainly stabilized.

Market quotation

As of September 29th, the factory price of 85% industrial phosphoric acid in Hubei region was around 6,850-7,000 RMB/ton, and the factory price of 85% thermal phosphoric acid in Sichuan region was around 6,770-7,000 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,950-7,050 RMB/ton.

Cost side

In terms of raw material phosphorus yellow: In the first half of September, the market price of phosphorus yellow showed a strong upward trend. Enterprises were mainly reluctant to sell and prioritize placing preliminary orders. In the second half of September, the market price of phosphorus yellow fell. The market trading atmosphere was not good, with poor pre holiday shipments and downstream price cutting procurement as the main focus.

Raw material phosphate rock market: The market price of phosphate rock remained stable at a high level in September, with tight supply in some areas, and 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 month, the supply of phosphoric acid in the market was tight, and there was a shortage of spot goods. Downstream procurement was mainly based on demand, and procurement was more cautious. Downstream enterprises had basically finished stocking up before the holiday, and there was temporarily no significant fluctuation in the market situation.

Market outlook

The phosphoric acid analyst from SunSirs believes that the phosphoric acid market had been stagnant, consolidating, and operating recently. The price of raw material phosphorus yellow had decreased, and cost support had weakened. But the market supply was still tight, and there was some support on the supply side. It is expected that the short-term phosphoric acid market will mainly experience price consolidation.

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