Price trend

According to the Commodity Market Analysis System of SunSirs, as of October 21st, the reference average price of 85% thermal phosphoric acid in China was 6,780 RMB/ton, which was 0.15% higher than the reference average price of 6,770 RMB/ton on October 14th.

According to the Commodity Market Analysis System of SunSirs, as of October 21st, 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 14th.

Analysis review

Market conditions

This week, the domestic phosphoric acid market prices fluctuated narrowly, with consolidation as the main trend. As of October 21st, 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 6,750-6,900 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: This week, the price of phosphorus yellow in the market has weakened and fallen. Some phosphorus yellow enterprises have maintenance plans, resulting in a decrease in market supply. Downstream purchases were made on demand, with a strong wait-and-see attitude, and market transactions were mainly based on low prices.

Raw material phosphate rock market: The phosphate rock market has remained stable this week, with prices remaining firm and a relatively optimistic outlook. 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 is tight, with a shortage of spot goods and a slight increase in market prices. Downstream urgent procurement requires caution in obtaining goods. As of October 22nd, there is still some support on the supply side.

Market outlook

The phosphoric acid analyst from SunSirs believes that the phosphoric acid market has been experiencing slight fluctuations and consolidation in recent days. The price of raw material phosphorus yellow has been lowered, providing good cost support. As of October 22, the supply in the spot market was tight, and the market had slightly rebounded. It is expected that the short-term phosphoric acid market will mainly experience price consolidation.

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