Phosphate Market Shows Narrow Fluctuations (10.17-10.23)

October 23rd, according to news from China,

I. Price Trends

According to the commodity market analysis system, as of October 23, the reference average price for 85% industrial-grade thermal phosphoric acid in China was 6,620 CNY per ton, a decrease of 0.45% from the reference average price of 6,650 CNY per ton on October 17.

II. Market Analysis

Market Perspective

This week, the price of phosphoric acid in China's market has slightly decreased. As of October 23, the ex-factory quotation for 85% thermal phosphoric acid in Hubei region is around 6,200-6,650 CNY/ton, in Yunnan region it is around 6,300 CNY/ton, and in Sichuan region it is around 6,200-6,600 CNY/ton.

Cost aspect

Regarding raw material yellow phosphorus, the market price of raw material yellow phosphorus in China has slightly increased this week. Currently, there are fewer low-priced sources of yellow phosphorus in the Chinese market, and manufacturers' quotations are firm. Although the transaction prices in the market have risen, downstream buyers are mainly adopting a cautious wait-and-see attitude, resulting in fewer new orders being placed. It is expected that the price of yellow phosphorus will remain stable in the short term.

III. Market Forecast

Phosphate analysts believe: Recently, the phosphate market has shown minor fluctuations. The price of raw material yellow phosphorus has increased, leading to higher cost support, but the support is limited. Currently, the phosphate market supply and demand are stable, with a light trading atmosphere. It is expected that in the short term, the phosphate market in China will mainly consolidate.