Phosphate Market Prices Slightly Increase (10.27-10.31)

October 31st, according to news

I. Price Trends

According to the commodity market analysis system, as of October 31, the reference average price of 85% industrial thermal phosphoric acid in China was 6,640 CNY per ton, an increase of 0.30% from the reference average price of 6,620 CNY per ton on October 27.

II. Market Analysis

Market Perspective

This week, the price of phosphoric acid in China has slightly increased. As of October 31, the ex-factory quotation for 85% thermal phosphoric acid in Hubei region is around 6,300-6,700 CNY/ton, in Yunnan region it is around 6,400 CNY/ton, and in Sichuan region it is around 6,250-6,700 CNY/ton.

Cost Aspect

In terms of raw material yellow phosphorus, the market price of yellow phosphorus in China has shown a strong upward trend this week. Currently, it is difficult to find low-priced yellow phosphorus in the Chinese market, with manufacturers mainly holding firm on prices. Downstream buyers are replenishing their stocks based on rigid demand, leading to an increase in the transaction prices of new orders. It is expected that in the short term, the price of yellow phosphorus in China will continue to be strong and stable.

III. Market Forecast

Phosphate analysts believe: Recently, the phosphate market trend has mainly been on the rise. The price of raw material yellow phosphorus has increased, and cost support has grown, leading the phosphate market trend to follow the upward movement of the raw materials. Currently, inquiries in the phosphate market have increased, and trading within the market remains stable. It is expected that in the short term, the Chinese phosphate market will operate with a stronger consolidation.