SunSirs: The Phosphate Rock Market Was Weak and Declined Overall in June (June 1-26)

Price trend

According to data monitoring by SunSirs, as of June 26, 2023, the reference average price of 30% grade phosphate rock in China was around 942 RMB/ton. Compared with June 1, 2023 (the reference price of phosphate rock was 1,010 RMB/ton), the price was reduced by 68 RMB/ton a decrease of 6.73%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that from June (6.1 to 6.26), the overall domestic phosphate rock market showed a weak decline. Starting from the beginning of the month, due to the weak downstream demand for phosphate rock, the overall shipment of phosphate rock had slowed down, and the mentality of the industry was average. Some mining companies started to lower the price of phosphate rock shipments, with a decrease of around 20-30 RMB/ton. Due to the impact of shipments, some mining enterprises had limited new orders, so there was some pressure on the supply side, and the support provided by the supply side to the market was gradually loosening. In the later stages, the phosphate rock market continued to move downward in the supply-demand game, with a 30% grade phosphate rock price reduction of around 40-60 RMB/ton. As of June 26th, the domestic market price for 30% grade phosphate rock was around 850-1,000 RMB/ton. For lower prices, please refer to around 780 RMB/ton while for higher prices, please refer to around 1,080 RMB/ton. The specific price varies depending on factors such as the original ore specifications, powder to lump ratio, and transportation conditions. The specific price needs to be negotiated based on the actual order.

Market outlook

As of the 26th, the trading atmosphere in the phosphate rock field was average, downstream purchases was mainly on demand, and new orders was relatively cautious. The phosphate rock data analyst at SunSirs believes that in the short term, the domestic phosphate rock market will mostly be weaker, and the specific trend still needs to pay more attention to changes in supply and demand news.

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