September 29 report:
I. Price Trends
According to the commodity market analysis system, on September 29, the reference average price of 85% thermal process phosphoric acid in China was 8,375 CNY per ton, compared to the reference average price of 85% thermal process phosphoric acid in China on September 1, which was 8,550 CNY per ton. The market price of thermal process phosphoric acid in China fell by 2.05% this month.
According to the commodity market analysis system, on September 29, the reference average price of 85% wet-process phosphoric acid in China was 7,966 CNY per ton, a decrease of 5.35% from the reference average price of 8,416 CNY per ton for 85% wet-process phosphoric acid in China on September 1.
2. Market Analysis
Market Conditions
This month, the Chinese phosphoric acid market experienced fluctuating declines. Raw material prices decreased this month, weakening cost support. The supply and demand in the phosphoric acid market remained stable, with downstream purchases made according to need, and the market sentiment was cautious. As of September 29, the price for 85% thermal phosphoric acid in China was around 7,900-9,600 CNY per ton, and the price for 85% wet-process phosphoric acid in China was around 7,700-9,400 CNY per ton.
Cost aspect
Phosphorus raw material market trend. In the first half of this month, the market price of yellow phosphorus continued to decline as companies were digesting their inventories, leading to a downward pressure on the yellow phosphorus market. In the second half of the month, the price of yellow phosphorus slightly increased and then stabilized. The trading activity in the yellow phosphorus market slowed down, with the market mainly driven by rigid demand.
Sulfur raw material market trend. This month, the sulfur market experienced fluctuating declines. The demand for sulfur weakened, and downstream purchasing enthusiasm was low, resulting in poor market transactions.
III. Future Market Outlook
Phosphate analysts believe that the phosphate market price trend has been slightly fluctuating recently. As the National Day holiday approaches, the demand for phosphate in China has slowed down, and market transactions have decreased. It is expected that the phosphate market in China will mainly undergo narrow-range consolidation in the short term.
