SunSirs: Recently, the Focus of the Phosphate Rock Market Continued to Move Upwards (September 11-19)

Price trend

According to data monitoring by SunSirs, as of September 19, 2023, the reference average price of 30% grade phosphate rock in China was around 970 RMB/ton. Compared with September 11, 2023 (reference price of 938 RMB/ton), the price increased by 32 RMB/ton, an increase of 3.41%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that in the recent period (9.11-9.19), the overall focus of the domestic mid to high-end grade phosphate rock market continued to move upwards. The trading atmosphere in the phosphate rock field had improved with the arrival of Golden September, leading to an increase in downstream demand. The supply of phosphate rock fields was tight, and the spot flow was relatively small. Both supply and demand sides had supported the steady upward trend of the market since the beginning of the month. In mid September, the overall focus of the domestic phosphate rock market continued to move upwards, with supply and demand of mid to high-end grade phosphate rock continuing to be tight. Downstream pre holiday stocking was open, and overall demand was good. The market price of 30 grade phosphate rock was increased by around 30-50 RMB/ton within ten days. As of September 19th, the domestic market price of 30% grade phosphate rock was referenced around 930-1,000 RMB/ton. The specific price might vary depending on factors such as the original ore specifications, powder to lump ratio, and transportation conditions. The specific details needed to be negotiated based on actual orders.

Market outlook

As of September 19th, the overall trading atmosphere in the phosphate rock market was warm, with tight spot prices on the market and good confidence among operators. Downstream demand was stable and rising. According to the phosphate rock data analyst of SunSirs, in the short term, the domestic phosphate rock market will mostly operate in a stable and strong 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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