SunSirs: In Early January, the Phosphate Rock Market Experienced an Upward Trend (January 1-9)

Price trend

According to data monitoring by SunSirs, as of January 9, 2023, the reference average price of 30% grade phosphate rock in China was around 1,056 RMB/ton. Compared with January 1, 2023 (reference price of 1,034 RMB/ton), the price increased by 22 RMB/ton, an increase of 2.13%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that in the beginning of 2024, the domestic phosphate rock market had experienced an upward trend. In early January, the overall domestic phosphate rock market rose by over 2%. Entering the new year, some mining companies in China had begun to implement new landing ore prices. Guizhou, Sichuan, and Guangxi regions had raised the prices of medium and high-grade phosphate rock by about 20-50 RMB/ton. As of January 9th, the supply of phosphate rock in the field was still tight, with some areas experiencing tight spot prices. Downstream demand for phosphate rock was mainly for procurement of essential goods. As of January 9th, the domestic market price for 30 grade phosphate rock was around 1,030-1,100 RMB/ton, with some regions offering higher prices around 1,150 RMB/ton. The specific price may vary depending on factors such as the original ore specifications and powder to block ratio, and the specific price needs to be negotiated based on actual orders.

Market outlook

As of January 9th, the trading atmosphere in the domestic phosphate rock market had been mild, and the mentality of the industry was good. Some downstream companies were stocking up before the new year and purchasing according to quantity. According to the phosphate rock data analyst of SunSirs, the domestic phosphate rock market was mainly stable in the short term, and the specific trend needs to pay more attention to the impact of factors such as demand and downstream shipment.

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