July 31st, according to reports
I. Price Trends
According to the commodity market analysis system, on July 31, the reference average price of 85% thermal process phosphoric acid in China was 8,725 CNY per ton, compared to the reference average price of 9,600 CNY per ton on July 1. The market price of thermal process phosphoric acid in China fell by 9.11% this month.
According to the commodity market analysis system, on July 31, the reference average price of 85% wet-process phosphoric acid in China was 8,850 CNY per ton, a decrease of 16.51% from the reference average price of 10,600 CNY per ton on July 1.
2. Market Analysis
Market Conditions
This month, the Chinese phosphate market saw a decline from high levels. The price of raw material yellow phosphorus first fell and then rose, while the price of raw material sulfur fluctuated, with cost support being acceptable. The demand for phosphoric acid in China was weak this month, with downstream buyers showing cautious purchasing intentions, leading to weak market transactions. As of July 31, the market quotation for 85% industrial thermal phosphoric acid in China was around 8,200-10,000 CNY/ton, and the market quotation for 85% wet-process phosphoric acid in China was around 8,300-10,000 CNY/ton.
Cost aspect
Phosphorus raw material market. This month, the phosphorus market first declined and then rose, with overall supply being tight. Downstream demand was average, and manufacturers mainly maintained prices. Sulfur raw material market. This month, the sulfur market fluctuated at a high level, with downstream purchases maintaining essential needs. Demand was average, and the market's upward momentum was limited.
3. Future Market Prediction
Phosphate analysts believe that the market price trend of phosphoric acid has been consolidating recently. Currently, the demand for phosphoric acid is weak, but the cost side still has support. It is expected that the short-term phosphoric acid market in China will mainly consolidate and operate.
