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SunSirs: Trading Was Light, and the Phosphate Rock Market Slightly Declined in February

March 05 2024 10:44:40     SunSirs (John)

Price trend

According to data monitoring by SunSirs, as of February 29, 2023, the reference average price of 30% grade phosphate rock in China was around 1,052 RMB/ton. Compared with February 1, the basic price has decreased by 4 RMB/ton, a decrease of 0.38%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that in February, the overall domestic phosphate rock market showed a slight decline. On the eve of the Spring Festival, the overall performance of the phosphate rock field was relatively calm, with most of the domestic ores suspended and mining suspended, and the trading atmosphere in the phosphate rock field was light. During the holiday period, the phosphate rock market was generally in a semi closed state, with no significant fluctuations in supply and demand. After the holiday, the overall production of phosphate rock had been average, and some mining areas were still in the closed mining stage. The downstream demand for phosphate rock had recovered relatively slowly, and new orders had been average. Some mining enterprises had narrowly reduced the prices of mid to high-end grade phosphate rock after the holiday. The reduction was around 10-20 RMB/ton. As of February 29th, the domestic market price for 30 grade phosphate rock was around 1,000-1,100 RMB/ton. The specific price varied 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 February 29th, the overall construction of the phosphate rock market was steadily recovering, and the downstream market of the terminal will also enter a stage of demand boosting with the warming weather. Therefore, the phosphate rock data analyst of SunSirs believes that in the short term, the domestic phosphate rock market will mainly stabilize with a slight recovery, and the specific trend still needs to pay more attention to the influence of factors such as demand and downstream shipment situation.

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