1、 Price trend

According to the Commodity Market Analysis System of the Business Society, the reference average price of 85% hot process phosphoric acid in China on January 1st was 9025 yuan/ton. On June 30th, the reference average price of 85% hot process phosphoric acid in China was 6300 yuan/ton. In the first half of 2023, the domestic price of hot process phosphoric acid decreased by 30.19%.

According to the Commodity Market Analysis System of Business Society, the reference average price of 85% wet process phosphoric acid in China was 8966 yuan/ton on January 1, and 6200 yuan/ton on June 30. In the first half of 2023, the domestic wet process phosphoric acid price decreased by 30.86%.

2、 Market analysis

According to the K-bar chart from January to June 2023, it can be seen that the price of phosphoric acid decreased significantly in the first half of the year. April saw the largest decline, with a maximum decline of 14.41%.

The price of phosphoric acid fluctuated and fell in the first half of 2023. In the first half of the year, the market for raw materials such as yellow phosphorus and phosphate rock weakened, resulting in insufficient cost support. The demand for phosphoric acid in the market is weak, and trading continues to be light, with bearish sentiment mainly on the market. There are fewer downstream purchases, and the transaction atmosphere is weak. Under the influence of weak factors of cost and demand, the domestic phosphoric acid price trend continued to decline from January to May. In June, the price of raw material yellow phosphorus stopped falling and stabilized, while the trend of raw materials for phosphoric acid was on the watch. The market price stopped falling and slightly increased.

3、 Future Market Forecast

Due to poor raw material prices in the first half of 2023, cost support is insufficient. Coupled with weak downstream demand, the trend of the phosphoric acid market continues to be weak. Recently, the stock of raw material yellow phosphorus has been tight, and market inquiries have increased. The phosphoric acid market has stabilized and is expected to show an upward trend in the short term.