1、 Price trend
According to the Commodity Market Analysis System of Business Society, as of May 23, the reference average price of 85% thermal phosphoric acid in China was 6620 yuan/ton, which is 0.70% higher than the reference average price of 6670 yuan/ton on May 17.
2、 Market analysis
The domestic phosphoric acid market prices have slightly increased this week. This week, raw material prices have remained high, with support from the cost side. Downstream procurement is mainly based on demand, with limited new orders in the market. The price of hot process phosphoric acid has remained stable and increased, while the market for wet process phosphoric acid has remained stable with minor fluctuations. As of May 23rd, the market price for 85% thermal phosphoric acid in Hubei region is around 6600-6900 yuan/ton. The domestic market quotation for 85% wet process phosphoric acid is around 6300-7000 yuan/ton.
Market for raw material phosphate rock. The market price of phosphate ore is temporarily stable this week. The reference average price of 30% grade phosphate ore in China is around 1048 yuan/ton. The inquiry atmosphere inside the phosphate ore field is mild, and the pace of phosphate ore shipments in some areas is clear, with a good mentality among the operators. In the short term, the domestic phosphate ore market is mainly stable with minor adjustments.
In terms of raw material yellow phosphorus. This week, the price of yellow phosphorus in the market fluctuated. At present, the trading situation in the yellow phosphorus market is still good, with manufacturers mainly issuing early orders and tight spot prices. Yellow phosphorus enterprises are mainly raising prices. The downstream inquiry situation is relatively positive, with high-end prices lowered and low-end prices adjusted. The overall procurement is still relatively cautious, and the upstream and downstream continue to remain deadlocked. As of now, the market quotation for yellow phosphorus is around 22500-23000 yuan/ton, and the actual transaction is negotiable.
3、 Future Market Forecast
Business Society’s phosphoric acid analyst believes that the phosphoric acid market has been consolidating and operating recently. The raw material market remains strong in the short term, and market demand needs to be improved. The industry is mainly cautious. It is expected that the short-term price consolidation in the phosphoric acid market will be the main trend.
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