October 30 report:
I. Price Trends
According to the commodity market analysis system, on October 30, the average reference price for 85% thermal process phosphoric acid in China was 8,300 CNY per ton, compared to 8,375 CNY per ton on October 1. This month, the market price of thermal process phosphoric acid in China fell by 0.90%.
According to the commodity market analysis system, on October 30, the reference average price of 85% wet-process phosphoric acid in China was 7,783 CNY per ton, compared to the reference average price of 85% wet-process phosphoric acid in China on October 1, which was 7,966 CNY per ton. This month, the price of wet-process phosphoric acid in China fell by 2.30%.
II. Market Analysis
Market Conditions
This month, the Chinese phosphate market showed a weak downward trend. The raw material market was not performing well this month, with cost support weakening, leading to a decrease in phosphate transaction prices. The supply and demand in the phosphate market remained stable, with downstream buyers replenishing stocks as needed, but with low procurement enthusiasm. As of October 30, the market quotation for 85% thermal process phosphate in China was around 7,800-9,500 CNY per ton, while the market quotation for 85% wet process phosphate in China was around 7,400-9,300 CNY per ton.
Cost Aspect
Yellow phosphorus market conditions. In the first half of this month, supply remained tight, driving prices higher. In the second half, yellow phosphorus prices softened, with sluggish trading activity. Going forward, the market is expected to stabilize. Sulfur market conditions. This month, sulfur prices continued to decline. Inventory levels remain elevated, and downstream buyers are increasingly inclined to buy on price increases rather than declines, leading to cautious purchasing.
III. Future Market Outlook
Phosphate analysts believe that the market price trend of phosphoric acid has been slightly adjusted recently. Currently, cost support is limited, and the demand for phosphoric acid is moderate. It is expected that the phosphoric acid market in China will mainly operate with a weak adjustment in the short term.
