Continuing the upward trend in "Golden September", the domestic phosphate rock market in "Silver October" continued to rise. After the end of the October National Day holiday, the overall domestic phosphate rock market continued to approach a high level. On October 26th, the market price of 30 grade phosphate rock once again broke through the thousand RMB/ton mark, with a reference price of around 1,008 RMB/ton, an increase of 3.92% compared to early October. As of October 26th, the difference between high and low prices in the phosphate rock field had narrowed, and the overall market performance was still good.
The main influencing factors for the upward trend of phosphate rock market:
On the supply side: As of October 26th, the overall supply of phosphate rock in China was still tight, with some regions experiencing tight spot inventory of medium to high grade ores and relatively low overall spot circulation on the market. Therefore, the supply side continued to support the overall focus of the phosphate rock market to move upwards.
In terms of demand: As of October 26th, the downstream demand for phosphate rock was acceptable. Although the opening of terminal winter storage was relatively slow, the downstream demand was still relatively stable, providing some support to the phosphate rock market. As of October 26th, some mining enterprises mainly accepted pre orders, and the overall market shipment situation was good.
Market outlook
As of October 26th, the trading atmosphere in the phosphate rock field was mild, and the supply and demand transmission was relatively smooth. It is expected that the narrow upward trend of the terminal potassium fertilizer and phosphate ammonium markets will provide some support to the market from downstream to upstream. The phosphate rock data analyst of SunSirs believes that in the short term, the domestic phosphate rock market will mostly operate in a stable and strong manner, and the specific trend needs to pay more attention to the impact of factors such as demand and downstream shipments.
