SunSirs: The Phosphate Rock Market Slightly Weakened This Week (August 6-10)

Price trend

According to data monitoring by SunSirs, as of August 10, 2023, the reference average price of 30% grade phosphate rock in China was around 856 RMB/ton. Compared with August 6, 2023 (reference price of 868 RMB/ton), the price was reduced by 12 RMB/ton, a decrease of 1.38%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that this week (8.06-8.10), the overall market situation of mid to high-end grade phosphate rock in China showed a slight decline. As of August 10, the overall trading volume in the phosphate rock field was average, with limited downstream new orders was limited. The weak terminal downstream demand provided limited market support for phosphate rock, and the market shipment of phosphate rock was not as expected. Within this week, some mining companies in some regions in China had slightly lowered the price of phosphate rock, with a decrease of around 10-20 RMB/ton. As of August 10th, the domestic market price of 30 grade phosphate rock was around 750-950 RMB/ton. The specific price may varied depending on factors such as the original ore specifications, powder to lump ratio, and transportation conditions. The specific details needed to be negotiated on actual orders.

Market outlook

As of August 10th, the overall phosphate rock market was operating at a weak and low level for a period of time. The industry in the phosphate rock field was highly optimistic about rising prices. Although the terminal demand performance was average, the recovery of the downstream phosphorus yellow and phosphoric acid market still gave confidence to the industry. Therefore, the risk of the phosphate rock market continuing to decline was relatively small. The phosphate rock data analyst of SunSirs believes that in the short term, the domestic phosphate rock market will mostly remain stable and consolidate, the specific trend still needs to pay more attention to the changes in news on the supply and demand side.

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