SunSirs: Phosphoric Acid Market Was Weaker (October 13-17)

Price trend

According to the commodity market analysis system of SunSirs, as of October 17, the domestic average reference price of 85% industrial-grade thermal phosphoric acid was 6,650 RMB/ton, compared with the average reference price of 6,660 RMB/ton on October 13, the domestic market price of industrial-grade thermal phosphoric acid fell by 0.15%.

Analysis review

Market situation

Domestic phosphoric acid prices fell slightly last week. As of October 17, the ex-factory price of 85% thermal phosphoric acid in Hubei Province was around 6,400-6,650 RMB/ton, in Yunnan Province it was around 6,450 RMB/ton, and in Sichuan Province it was around 6,200-6,600 RMB/ton.

Cost side

Regarding raw material phosphorus yellow, prices fell last week. As of October 17, the market was supplying a sufficient amount of phosphorus yellow, with downstream suppliers replenishing stock based on demand and primarily purchasing at low prices. Due to the subdued market sentiment, phosphorus yellow prices are expected to remain weak in the short term.

Market outlook

SunSirs’ phosphoric acid analysts believe the phosphoric acid market has been weaker recently. With the price of raw material phosphorus yellow declining, cost support was insufficient, and the phosphoric acid market was following the downward trend of raw materials.As of October 17, there were few inquiries in the phosphoric acid market, and trading was light. The domestic phosphoric acid market is expected to remain weaker in the short term.

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