Rising Costs Drove Up Market Prices for Phosphoric Acid

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According to the commodity market analysis system of SunSirs, as of June 11, the reference average market price for domestic 85% industrial-grade thermal phosphoric acid stood at 10,925 RMB/ton; this represents a 5.30% increase from the reference average price of 10,375 RMB/ton recorded on June 1.

Market Analysis

Market Conditions

In early June, phosphoric acid prices trended upward strongly. Driven by rising costs—specifically the strengthening markets to raw materials like phosphorus yellow and sulfur—phosphoric acid prices climbed to higher levels. Operating rates remained stable, and downstream buyers purchased on an as-needed basis, with transactions primarily negotiated on a case-by-case basis; market sentiment remains bullish. As of June 11, domestic market quotes to 85% manufacturing-grade thermal phosphoric acid ranged from approximately 10,500 to 12,200 RMB/ton, while quotes to 85% wet-process phosphoric acid ranged from approximately 10,800 to 12,800 RMB/ton.

Regarding costs:

In early June, market prices to raw materials—phosphorus yellow and sulfur—trended upward. Sulfur prices have surged recently, surpassing the 10,000 RMB/ton mark on June 10. As of June 11, global sulfur supplies were tight, the supply-demand gap was widening, and port inventories were declining. Rising prices to wet-process phosphoric acid have driven up the prices of thermal-process phosphoric acid and phosphorus yellow.

Market Outlook

Analysts at SunSirs observe that the phosphoric acid market has recently been trending upward. Rising costs are driving up prices, and market sentiment remains bullish. It is expected that phosphoric acid prices will continue to rise and remain strong in the short term.

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