1、 Price trend
According to the Commodity Market Analysis System of Business Society, the reference average price of 85% hot process phosphoric acid in China on January 1st was 6580 yuan/ton. On January 29th, the reference average price of 85% hot process phosphoric acid in China was 6430 yuan/ton. This month, the domestic price of hot process phosphoric acid decreased by 2.28%.
According to the Commodity Market Analysis System of Business Society, the reference average price of 85% wet process phosphoric acid in China on January 1st was 6450 yuan/ton, and on January 29th, the reference average price of 85% wet process phosphoric acid in China was 6366 yuan/ton. This month, the domestic wet process phosphoric acid price fell by 1.29%.
2、 Market analysis
The price of phosphoric acid in the market fell first and then rose this month. In the first half of January, the market price of phosphoric acid continued to decline. The demand for phosphoric acid in the market continues to be sluggish, with fewer inquiries and relatively quiet transactions. Phosphoric acid manufacturers and distributors have lowered prices for shipments, leading to bearish sentiment in the market. In the second half of January, the price of phosphoric acid in the market increased. The raw material yellow phosphorus market is strong, and there is support for the cost of phosphoric acid. As the Spring Festival holiday approaches, downstream demand users are actively purchasing, but overall market demand remains weak. As of January 29th, the factory price of 85 thermal process phosphoric acid in Hubei region is around 5950-6700 yuan/ton, and the factory price of 85 thermal process phosphoric acid in Sichuan region is around 6000-6900 yuan/ton. The domestic market quotation for 85 wet process phosphoric acid is around 5450-6950 yuan/ton.
Market for raw material yellow phosphorus. The price of yellow phosphorus in the market rose in January, and the overall trading situation in the yellow phosphorus market is still acceptable. In the first ten days, the downstream market situation was average, and traders and downstream buyers had average enthusiasm for purchasing. Downstream procurement was more cautious and more wait-and-see. In the middle of the year, the yellow phosphorus market was on the rise, and the overall market trading situation was relatively active. Downstream stocking was active towards the end of the year. In the latter half of the year, the price of yellow phosphorus in the market remained relatively stable, with manufacturers mainly placing early orders and completing the year-end stocking. The downstream market just needed a small amount of replenishment. As of now, the market quotation in Sichuan region is mostly around 24000 yuan/ton, and the actual transaction is negotiable.
Market for raw material phosphate rock. After the domestic phosphate ore market rose this month, it remained stable in operation. In early January, some mining companies in China began to implement new ore prices. Guizhou, Sichuan, and Guangxi regions have raised the prices of medium to high-grade phosphate ore by about 20-50 yuan/ton. Currently, the supply of phosphate ore in the field is still tight, and downstream demand for phosphate ore is mainly for rigid procurement. As of January 29th, the reference price for domestic phosphate ore market is around 1056 yuan/ton.
3、 Future Market Forecast
Business Society’s phosphoric acid analyst believes that the recent trend of the phosphoric acid market has slightly increased. The price of raw material yellow phosphorus is strong, and the cost is still supported. Downstream urgent replenishment before the holiday, some phosphoric acid manufacturers have stopped production, resulting in a decrease in market supply. It is expected that the short-term phosphoric acid market will experience a slight increase.
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