SunSirs: In the First Week of September, the Phosphate Rock Market Saw a Slight Increase (September 1-5)

Price trend

According to data monitoring by SunSirs, as of September 5, 2023, the reference average price of 30% grade phosphate rock in China was around 882 RMB/ton. Compared with August 31, 2023 (reference price of phosphate rock was 856 RMB/ton), the price has increased by 26 RMB/ton, an increase of 3.04%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that in the first week of September (9.1-9.5), the overall market situation of mid to high-end grade phosphate rock in China showed a slight upward trend. In September, the trading atmosphere in the domestic phosphate rock market improved, and downstream demand boosted. The supply of mid to high-end grade phosphate rock was tight in the field, with limited spot circulation. The mentality of phosphate rock industry had improved, and some mining enterprises in some regions had raised the prices of mid to high-end grade phosphate rock narrowly, with an increase of around 10-30 RMB/ton. As of September 5th, the domestic market price of 30% grade phosphate rock was referenced around 830-980 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 price of the actual order was subject to negotiation.

Market outlook

As of September 5th, the overall atmosphere of the phosphate rock market was moderate, with some recovery. The overall supply side was relatively tight, providing some support to the market. The recovery of stable downstream demand had boosted market confidence. The phosphate rock data analyst from SunSirs believes that in the short term, the domestic phosphate rock market will mostly operate in a stable and stronger manner, and the specific trend still needs to pay more attention to changes in news on the supply and demand side.

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