SunSirs: Since March, the Phosphate Rock Market Had Been Steadily Rising (March 1-23)

Price trend

According to data monitoring by SunSirs, as of March 23, 2023, the reference average price of 30% grade phosphate rock in China was around 1,102 RMB/ton; Compared to March 1 (the reference price of phosphate rock was 1,074 RMB/ton), the price increased by 38 RMB/ton, or 2.61%.

Analysis review

As can be seen from the data monitoring chart of SunSirs, since March (3.1-3.23), the overall domestic phosphate rock market had experienced a steady upward movement. The weather gradually warmed in March, and with the arrival of the spring planting season, the downstream demand for phosphate rock gradually recovered. The boost in downstream demand provided enhanced support for phosphate rock. The supply of phosphate rock in the field was mainly continuously tight, and both supply and demand drove the overall strong operation of the phosphate rock market.

As of March 21, the domestic market price of 30% grade phosphate rock was referenced around 1,080-1,150 RMB/ton, while the price of slightly higher grade phosphate rock was referenced around 1,200 RMB/ton, and the price of 28% grade phosphate rock was referenced around 980-1,000 RMB/ton. Due to factors such as raw ore specifications and powder to lump ratio, the specific prices also varied, and the specific prices needed to be negotiated on a real basis.

Market outlook

As of the 23rd, the trading atmosphere in the phosphate rock field was warm, the downstream demand side followed up well, and the industry's mentality was well supported. The phosphate rock data analyst from SunSirs believes that in the short term, the domestic phosphate rock market will mostly be stable and consolidated at a high level, and the specific trend needs to pay more attention to the changes in information on the supply and demand side.

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