SunSirs: The Phosphoric Acid Market Saw a Slight Increase in Mid September (September 11-20)
September 24 2024 11:15:16 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of September 20th, the reference average price of 85% industrial grade phosphoric acid in China was 6,790 RMB/ton, which was 0.30% higher than the reference average price of 6770 RMB/ton on September 11th.
According to the Commodity Market Analysis System of SunSirs, as of September 20th, the reference average price of 85% wet process phosphoric acid in China was 7,033 RMB/ton, which was 0.72% higher than the reference average price of 6,983 RMB/ton on September 11th.
Analysis review
The domestic phosphoric acid market saw a slight increase in mid September. As of September 20th, the delivery price of 85% industrial phosphoric acid in Hubei region was around 6,850-7,000 RMB/ton, and the ex factory quotation 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 7,033 RMB/ton.
Cost side
In terms of raw material yellow phosphorus: In mid September, the price of raw material yellow phosphorus slightly decreased due to lack of market confidence and increased wait-and-see sentiment. Specific transaction negotiations were underway. It is expected that the short-term yellow phosphorus market will mainly focus on consolidation and operation.
Raw material phosphate rock market: In mid September, the market price of phosphate rock remained stable at a high level, 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
In mid September, some wet process phosphoric acid plants resumed production and market supply increased. Before the holiday, downstream companies began actively stocking up, and the market urgently needed support. As of September 20th, the phosphoric acid market maintained a supply-demand balance.
Market outlook
The phosphoric acid analyst from SunSirs believes that the phosphoric acid market had experienced narrow fluctuations in recent days. As of September 20th, the raw material phosphate rock remained strong at a high level, while the raw material yellow phosphorus marketwas weakening, and the market supply and demand were stable. It is expected that the short-term phosphoric acid market price will remain stagnant mainly.
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