SunSirs: On the Eve of the Dragon Boat Festival, the Phosphate Rock Market Was Declining (June 16-20)

Price trend

According to data monitoring by SunSirs, as of June 20, 2023, the reference average price of 30% grade phosphate rock in China was around 966 RMB/ton. Compared with June 16, 2023 (reference price of 1,006 RMB/ton for phosphate rock), the price was reduced by 40 RMB/ton, a decrease of 3.98%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that on the eve of the Dragon Boat Festival in June (6.16-6.20), the domestic phosphate rock market as a whole was in a weak and downward trend. Before the holiday, the downstream staged stocking of phosphate rock was general, and the weak demand side continued to loosen the support for the phosphate rock market. Phosphate rock shipments gradually slowed down, and some mining companies implemented early shipment plans. The supply and demand sides of phosphate rock showed a stalemate. Some mining companies started to ship at a discount and lowered the shipping prices of mid to high end grade phosphate rock, with a 30% grade phosphate rock reduction of around 20-50 RMB/ton. As of June 15th, the domestic market price of 30% grade phosphate rock was around 950-1,080 RMB/ton. Due to differences in raw ore specifications and powder to lump ratio, there were also differences in specific prices, which needed to be negotiated on actual orders.

Market outlook

As of June 20th, the trading atmosphere in the phosphate rock field was light, and new orders were relatively cautious. The support from supply and demand sides for the phosphate rock market was general. The phosphate rock data analyst from SunSirs believes that in the short term, the domestic phosphate rock market will mostly be sorted weaker, and the specific trend still needs to pay more attention to changes in supply and demand news.

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