9.16-9.20 Weekly summary of feed grade phosphate products
Weekly market summary of feed grade phosphate products (2024.9.16-2024.9.20):
Raw materials: The prices of phosphate rock and sulfuric acid in Yunnan Province remained stable this week. The new Plant of Yunnan Copper has not yet produced acid, while other plants are operating normally, with output 2,000 tons/per day.
Supply and operating rate: The operating rate this week increased slightly compared with last week. One of major factory in Yunnan has not yet resume production. Other factories in Hubei, Guizhou, Sichuan, Inner Mongolia, and Shandong begun to resume production and the inventory pressure is relatively small.
On the demand side: Procurement demand of downstream fell this week, and with the strategy of multiple purchasing with small quantity. The demand of Monocalcium phosphate in North is gradually cooling down, while there is still a small amount of rigid demand in the South. The overall market demand support is limited.
Forecast:
After the Mid-Autumn Festival, new orders were sluggish, and some factories’ quotations were stable and focus on the delivering of previous orders; factories quotations were temporarily stable, but some distributors may have the possibility of signing orders at a lower price due to the desire to clear inventory. The industry is taking a wait-and-see attitude towards the future sulfuric acid price, and the overall market is in a state of supply and demand game. In the future, need to pay attention to the news of acid production of the new plant of Yunnan Copper.
