Yellow Phosphorus Returns
Youren's Market Updates
1- Yellow phosphorus: after the crazy increase for several weeks, P4 price started sliding since August. Last week it further came down to RMB16500/mt, until today there is offer of RMB15300/mt. As the P4 factories are resuming production one by one, the market stick to wait and see the price drop to normal level in the coming 2 weeks.
2- Phosphoric acid: P.A. price has no big change yet, cause most factories didn’t buy the high cost raw materials, there is seldom production. Hence generally P.A. supply is still relatively in tense, and PPA producer from Dazhou hasn’t down-regulated their price.
3- Urea: urea price is still low in China. The domestic market already enters slack season, both compound fertilizer producers and water soluble fertilizer producers have limited demand for urea.
1- MKP: as raw materials cost is sliding, MKP offer from Sichuan is also much lower. We hope next week everything will return back to normal level.
2- TMAP price is in downtrend now. As the domestic market peak season is ending, most factories supply becomes sufficient. We estimate that in 2H of Aug. the market price level will reduce about RMB50-100/mt.
3- UP HP price is still on the higher stage, with limited production for previous confirmed orders. Youren is halting UP WP production for facilities inspection since this week. Estimated resuming time in early Sept. We have enough inventory for required instant shipment.
1- Ocean freight to almost all ports from China has very sharp increase since Aug. The shipping lines have reduced the containers usage so that container booking is very tight. While some territories have finished holidays and peak season starts, PSS charge is high up to $500/teu increasing.
2- Currency rate is quite good for Chinese suppliers to export. USD:RMB keeps above 1:7.0 last week, today it's 1:7.05.
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