In early November, the phosphate market in China showed a strong performance (Nov. 1-10)

November 10th, according to reports

I. Price Trends

According to the commodity market analysis system, as of November 10, the reference average price of 85% industrial-grade thermal phosphoric acid in China was 6,700 CNY per ton, up 1.05% from the reference average price of 6,640 CNY per ton on November 1.

II. Market Analysis

Market Perspective

In the early part of this month, the price of phosphoric acid in China increased. As of November 10th, the ex-factory quotation for 85% thermal phosphoric acid in Hubei region was around 6,400-6,800 CNY/ton, in Yunnan region it was around 6,500 CNY/ton, and in Sichuan region it was around 6,450-6,800 CNY/ton.

Cost Aspect

In terms of raw material yellow phosphorus, the market price of yellow phosphorus in the first decade of this month showed a strong upward trend. It was difficult to find low-priced yellow phosphorus, and manufacturers raised their quotations, mainly holding back from selling. As the price of yellow phosphorus continued to rise, downstream buyers started to replenish their stocks out of necessity, with a more cautious attitude. It is expected that the price of yellow phosphorus will stabilize in the short term.

III. Market Forecast

Phosphate analyst believes: Recently, the phosphate market in China has been on an upward trend. The raw material, yellow phosphorus, is also showing an upward trend, providing cost support, which is beneficial and leading the phosphate market to follow the upward trend of the raw material. Currently, there is increased optimism in the phosphate market in China, with decent trading activity. It is expected that in the short term, the phosphate market in China will mainly undergo minor adjustments.