1、 Price trend

According to the Commodity Market Analysis System of the Business Society, the average market price of 55% powdered ammonium phosphate in China on November 6th was 3200 yuan/ton. On November 13th, the average market price of 55% powdered ammonium phosphate in China was 3466 yuan/ton. This week, the market price of monoammonium phosphate increased by 8.33%.

According to the Commodity Market Analysis System of the Business Society, the average market price of 64% diammonium phosphate in China on November 6th was 3900 yuan/ton. On November 13th, the average market price of 64% diammonium phosphate in China was 3983 yuan/ton. This week, the market price of diammonium phosphate increased by 2.14%.

2、 Market analysis

The market price of ammonium phosphate has significantly increased this week. The price of raw materials such as phosphate ore and sulfur has increased, resulting in favorable cost support. At present, there is a large backlog of monoammonium phosphate factories, and the winter storage market follows up as needed, with the market operating at a high price. The market for diammonium phosphate is facing a tight supply and rising prices, with the market rising from a high level. Manufacturers and distributors are mainly reluctant to sell. As of November 13th, the factory quotation for 55 powdered ammonium in Hubei region is about 3450 yuan/ton, while the factory quotation for 55 powdered ammonium in Henan region is about 3500 yuan/ton, with actual negotiations being the main focus. The 64% market quotation for diammonium in Shandong region is around 3950-4150 yuan/ton, and the actual transaction is negotiated.

In terms of raw material sulfur. The domestic sulfur market has shown a significant upward trend this week. The sulfur refinery unit is operating normally and the market supply is stable. The downstream mentality is optimistic, and the enthusiasm for entering the market and purchasing goods has increased. Manufacturers’ shipments are smooth, inventory is reduced, and refineries are adjusting their inventory based on their own situation. As of November 13th, the reference average price of sulfur in East China is 1003.33 yuan/ton.

In terms of raw phosphorus ore. The market price of phosphorus ore has risen this week. At present, the overall demand for phosphorus ore downstream is good, and the on-site spot circulation is still tight. As the middle of the month approaches, some mining companies with lower shipping prices in the early stages have started to raise the prices of mid to high-end grade phosphate rock, with an increase of about 20-30 yuan/ton. As of November 13, 2023, the reference average price of 30% grade phosphate ore in China is around 1046 yuan/ton.

3、 Future Market Forecast

Analysts from the Business Society believe that the ammonium phosphate market has surged recently due to favorable factors such as rising costs, support for pending orders, and insufficient market supply. At present, the upward trend is slowing down, and downstream and dealers are starting to watch cautiously after the continuous rise. It is expected that the short-term market price of ammonium phosphate will be relatively strong and will be sorted and operated.