SunSirs: The Phosphate Rock Market Rose Overall after the Holiday (January 1-5)

Price trend

According to data monitoring by SunSirs, as of January 5, 2023, the reference average price of 30% grade phosphate rock in China was around 1,054 RMB/ton. Compared with January 1, 2023 (reference price of phosphate rock was 1,034 RMB/ton), the price had increased by 20 RMB/ton, an increase of 1.90%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that this week, the overall domestic phosphate rock market had shown an upward trend. After New Year's Day, the overall trading atmosphere in the domestic phosphate rock market was mild, and downstream purchases and stocking were just in needed. After the New Year's Day holiday, some mining enterprises in Sichuan and Guangxi provinces in China implemented new prices for new orders after the holiday, increasing the prices of mid to high-end grade phosphate rock by about 10-30 RMB/ton. The overall phosphate rock market in Guizhou and Yunnan regions continued to operate steadily. As of January 5, the supply of phosphate rock in some regions continued to be tight, and the on-site spot circulation was tight. As of January 5th, the domestic market price for 30 grade phosphate rock was around 1,030-1,100 RMB/ton, with a relatively high price of around 1,150 RMB/ton. The specific price might vary depending on factors such as the original ore specifications and powder to block ratio, and the specific price needed to be negotiated based on actual orders.

Market outlook

As of January 5th, the mentality of domestic phosphate rock industry had improved, with some areas experiencing low mining operations and overall supply side pressure in the market. Downstream demand remained stable but just in needed. According to the phosphate rock data analyst from SunSirs, in the short term, the domestic phosphate rock market will mostly be stable with minor adjustments. The specific trend still needs to pay more attention to the impact of factors such as demand and downstream shipments.

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