SunSirs: The Focus of the Phosphate Rock Market Was Weak and Downward This Week (May 7-11)

Price trend

According to data monitoring by SunSirs, as of May 11, 2023, the reference average price of 30% grade phosphate rock in China was around 1,066 RMB/ton. Compared with May 7, 2023 (reference price of phosphate rock was 1,090 RMB/ton), the price had decreased by 24 RMB/ton, a decrease of 2.20%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that this week (5.7 to 5.11), the domestic phosphate rock market as a whole was in a weak and declining trend, and the overall market focus was on a downward trend. At present, although the overall support for the supply side of phosphate rock in China is still acceptable, the overall operating rate downstream of the phosphate rock industry chain is relatively low, and the demand for phosphate rock in some regions has weakened. The overall atmosphere in phosphate rock field is average, and some mining companies have lowered the prices of mid to high-end grade phosphate rock by around 20-50 RMB/ton. As of May 11, 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 through actual orders

Market outlook

At present, the trading atmosphere in the phosphate rock field is quiet, and the downstream weakness affects the mentality of the industry. From bottom to top, the support for phosphate rock is loosened. The phosphate rock data analyst from SunSirs believes that in the short term, the domestic phosphate rock market is mainly subject to narrow adjustments, and the specific trend still needs to pay more attention to changes in supply and demand information.

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