Chinese Phosphoric Acid Market Remained Stable in Feb 2018

Chinese Phosphoric Acid Market Remained Stable in Feb 2018
Time:2018-03-12 From: Rawchem supply chain management

Chinese Phosphoric Acid Market Remained Stable in Feb 2018

Market Review: In February 2018, dealing prices in the Chinese phosphoric acid market. With the coming Spring Festival, the dealing sentiments got weak. Moreover, prices for phosphoric acid produced via wet method were at lows, which weighed on the overall market. Yellow phosphorus prices moved up, supported the production cost. However, the demand for phosphoric acid was weak, and it was hard for market prices to move high.Mainstream ex-works prices for phosphoric acid produced via wet method (without package) were in the range of RMB 4,050-4,400/mt, with dealing prices being negotiable. In Hubei, ex-works prices were around RMB 4,300/mt. As for the phosphoric acid produced via furnace method, negotiation prices for industry grade goods in East China were in the range of RMB 5,000-5,300/mt. Dealing prices were lower than the negotiation prices. In Southwest China, negotiation prices for industry grade goods were in the range of RMB 4,500-4,800/mt. USD offers for food grade phosphoric acid in South China were in the range of $880-920/mt FOB Fangcheng.                

Yellow Phosphorus Market Review

In February, downstream users of yellow phosphorus stocked up goods. The demand increased. Dealing prices inched up. In mid-February, the overall trading was stagnant. Some producers offered low prices to control the inventory. In H2 February, the demand recovered slightly. The overall supply was limited. Most producers in Yunnan planned to restart the units in May. Up to February 28, the mainstream prices for yellow phosphorus in Yunnan were in the range of RMB 15,800-16,200/mt (without package cost). In February, the average price for yellow phosphorus in Southwest China was RMB 15,743/mt, up 1.67% month on month and 11.99% year on year.        

Phosphoric Acid Market Forecast

Raw Materials: In March, the electrovalence will continue to increase in Yunnan and Sichuan. The overall operating rate is low and the supply will be tight.  

Wet Method Phosphoric Acid: The operating rate in Wengfu is high and daily output is around 2.8kt. Prices are low.  

Supply and Demand: Producers restart the units gradually and the supply is increasing. The demand remains weak.

On the whole, the demand for phosphoric acid is weak, which will pressure the phosphoric acid market. Though the yellow phosphorus market will support the phosphoric acid, it is hard for the phosphorus acid prices to move up.

 

 

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