SunSirs: Raw Materials Strengthened, Phosphoric Acid Market Rose (March 11-18)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 18th, the reference average price of 85% industrial grade phosphoric acid in China was 6,760 RMB/ton, which was 0.60% higher than the reference average price of 6,720 RMB/ton on March 11th.

Analysis review

Market side

The domestic phosphoric acid market prices have risen this week. As of March 18th, the ex factory price of 85% thermal phosphoric acid in Hubei region was around 6,600-6,900 RMB/ton, and the ex factory price of 85% thermal phosphoric acid in Sichuan region was around 6,700-6,900 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,600-7,100 RMB/ton.

In terms of cost

In terms of raw material phosphorus yellow: The phosphorus yellow market has strengthened this week, with prices continuing to rise. As of March 18th, the supply of phosphorus yellow in the market was tight, and manufacturers have raised prices, resulting in low market inventory. Downstream replenishment was based on demand and procurement required cautious. It is expected that the domestic phosphorus yellow price will be stronger in the short term.

Supply and demand side

The supply and demand were balanced in the phosphoric acid market this week. As of March 18th, the supply of phosphoric acid in the market was stable, with stable shipments on the demand side and downstream procurement based on demand. It is expected that the supply and demand sides will remain balanced in the short term.

Market outlook

SunSirs’ phosphoric acid analyst believes that the phosphoric acid market has risen recently. The price of raw material phosphorus yellow has increased, leading to an increase in cost support. Some phosphoric acid companies have raised prices, but caution remained. It is expected that the domestic phosphoric acid market will remain stable with a upward trend in the short term.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.