SunSirs: After the Holiday, the Phosphate Rock Market as a Whole Is in a Weak and Declining Trend (May 4-9)

Price trend

According to data monitoring by SunSirs, as of May 9, 2023, the reference average price of 30% grade phosphate rock in China was around 1,070 RMB/ton. Compared with May 1, 2023 (the reference price of phosphate rock was 1,090 RMB/ton), the price was reduced by 20 RMB/ton, a decrease of 1.83%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that during the Labor Day holiday in early May, the overall domestic phosphate rock market remained stable and consolidated. After the holiday (5.4-5.09), the overall domestic phosphate rock market started to operate in a weak and downward trend. The overall trend of the phosphate rock market was low and confusing, and the downstream yellow phosphorus industry chain and terminal demand were average. The overall operating rate in the downstream was relatively low, and the demand for raw materials was weakened. From bottom to top, the support for phosphate rock was loosened, and the mentality of phosphate rock industry was average. Therefore, some mining enterprises in certain regions in China had lowered the prices of mid to high-end grade phosphate rock, with a 30% grade phosphate rock reduction range of around 20-40 RMB/ton. As of May 9, the market price of 30% grade phosphate rock in China is around 1,000-1,100 RMB/ton, and the low price is around 980 RMB/ton. Due to differences in the specifications of the original ore and the powder to lump ratio, the specific prices also varied, and the specific details needed to be negotiated according to actual orders.

Market outlook

At present, the trading atmosphere inside the phosphate rock field is light, and there is a certain wait-and-see sentiment inside the field. The pace of shipment in some regions has slowed down. The phosphate rock data analyst from SunSirs believes that in the short term, the domestic phosphate rock market is mainly adjusted to be weaker narrowly. The specific trend still needs to pay more attention to changes in supply and demand news.

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