1、 Price trend

According to the Commodity Market Analysis System of Business Society, as of March 22, the reference average price of 85% thermal phosphoric acid in China was 6600 yuan/ton, which is 6580 yuan/ton compared to the reference average price on March 18. This week, the domestic price of thermal phosphoric acid increased by 0.30%.

According to the Commodity Market Analysis System of Business Society, as of March 22, the reference average price of 85% wet process phosphoric acid in China was 6800 yuan/ton, which is 6733 yuan/ton compared to the reference average price on March 18. This week, the domestic wet process phosphoric acid price increased by 0.99%.

2、 Market analysis

The domestic phosphoric acid market prices have risen this week. The prices of raw materials such as yellow phosphorus and phosphate ore have risen, providing support on the cost side. This week, the demand for thermal phosphoric acid in the market was sluggish, and downstream purchases were made on demand, resulting in limited market trading. This week, the demand for wet process phosphoric acid in the market has increased, and the trading atmosphere is good. Manufacturers have continuously raised their quotations.

As of March 22, the market price for 85% thermal phosphoric acid in Yunnan region is around 6600 yuan/ton, and the market price for 85% thermal phosphoric acid in Hubei region is around 6500-6800 yuan/ton. The domestic market quotation for 85% wet process phosphoric acid is around 6000-7800 yuan/ton.

In terms of raw material yellow phosphorus. The focus of the yellow phosphorus market has slightly shifted upwards this week. The trading situation of yellow phosphorus on the market is average. Driving on site is relatively stable. Manufacturers are mainly holding up prices, while the yellow phosphorus market has rebounded and stopped falling. Downstream procurement is cautious, while upstream and downstream are relatively stagnant, with a focus on wait-and-see. Overall, the market situation for yellow phosphorus is average. As of now, the market price for yellow phosphorus is around 22700-23300 yuan/ton, and the actual transaction is negotiable.

In terms of raw material phosphate ore. This week, the phosphate ore market has shown a fluctuating trend of ups and downs. At the beginning of the week, the overall price of phosphate ore in the Yunnan region of China increased, with some mining companies that had previously quoted lower prices raising the price of 30 grade phosphate ore by about 20 yuan/ton. Later, during the mid week period, some mining companies in Guizhou region also lowered the prices of mid to high end grade phosphate ore narrowly based on their own shipments, with a reduction of about 10-30 yuan per ton. The phosphate ore market in other regions mainly continues to consolidate and operate.

3、 Future Market Forecast

The phosphoric acid analyst from Business Society believes that the current trend in the phosphoric acid market is upward. The raw material market is strengthening, with good cost support. The demand for wet process phosphoric acid is good, while the demand for hot process phosphoric acid needs to be improved. It is expected that the short-term market price of phosphoric acid will continue to rise, and it is recommended to pay attention to changes in costs and demand.