Price trend

According to data from SunSirs, the average reference price of 85% hot process phosphoric acid in China on March 1st was 8,400 RMB/ton. On March 31st, the average reference price of 85% hot process phosphoric acid in China was 7,991 RMB/ton. This month, the domestic price of hot process phosphoric acid decreased by 4.86%.

Analysis review

The price of phosphoric acid market continued to fall in March. The trend of raw material phosphorus yellow market this month was not good, and the phosphoric acid market was mainly wait-and-see. Market trading was light, with relatively few transactions. Under the dual weakness of cost and demand, the price of thermal method phosphoric acid continued to decline. As of March 31st, the factory quotation for 85% thermal method phosphoric acid in Sichuan region was around 7,750-8,100 RMB/ton, the factory quotation for 85% thermal method phosphoric acid in Yunnan region was around 8000 RMB/ton, and the factory quotation for 85% thermal method phosphoric acid in Hubei region was around 7,600-8100 RMB/ton. The domestic market quotation for 85% wet process phosphoric acid wais around 7,250-8,500 RMB/ton.

Market situation of raw material phosphorus yellow. The price of phosphorus yellow market fell in March. Manufacturers delivered more preliminary orders and did not provide external quotations. In the first half of the month, the market trading was light, the wait-and-see atmosphere was strong, the enthusiasm for buying was not high, the high-end price was difficult to clinch a deal, and the market price was reduced. In the second half of the month, the supply and demand of phosphorus yellow market remained relatively stagnant, with prices temporarily stabilizing and consolidating. Some manufacturers in Yunnan had completed maintenance and significantly increased their supply, but the price of raw material phosphate rock had increased. The manufacturers were more resistant to low-end prices, and most enterprises were temporarily not offering prices to the outside, maintaining real order negotiations. As of the end of March, the mainstream quotation was around 28,200-32,000 RMB/ton, and the actual transaction price was negotiable

Market outlook

According to phosphoric acid analysts from SunSirs, the current market trend of raw material phosphorus yellow is not good, and the demand for phosphoric acid in the market is low. Manufacturers and distributors are still mainly on the sidelines. It is expected that the price of phosphoric acid will continue to be sorted weaker in the short term.

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