Amsul market edged higher in the week. Caprolactam grade EXW price stood at CNY1,100-1,125/t. Operation rate is stable with a sufficient supply to the market. Domestic agricultural demand faded post peak season; compound fertilizer producers purchased on need basis. For export market, Amsul FOB price is around USD240-252/t. Buyers are still cautious for new purchases.
Yellow phosphorus price drifted lower this week. EXW price in southwest China stood at CNY28,000-28,400/t with slight drop. In-factory inventory remained low and suppliers intended to hold firm offers. Intl’ demand stayed muted with buyers’ hesitation.
85% tech. grade phosphoric acid trended down. Wet-process P.A. EXW price stood at CNY8,000-8,250/t. Plant operation rate remained high with sufficient spot supply. Downstream phosphate and iron phosphate producers purchased on demand basis. New order volume was limited amid aggressive price-bargaining intention. Yellow phosphorus offered cost support for hot-process acid yet failed to reverse the sluggish market trend. Export FOB price stayed at USD1,180-1,220/t with limited deals. Market participants remained cautious.
Granular sulphur spot price at Yangtze-river port was CNY8,550-8,700/t. Refineries maintained stable output while port inventory stood at medium level. Downstream sulfuric acid and phosphate fertilizer plants purchased on rigid demand basis amid slow autumn-fertilizer preparation and low appetite for high-price cargoes. Middle East geopolitical risks offered sentiment support, yet lower September-contract price reduced import cost. Domestic spot transactions stayed thin with limited orders. Mixed market drivers are present, sulphur price will keep fluctuating in short run.
Urea price was stable but suddenly surge on weekends. EXW price stood at CNY1,680-1,730/t. Some facilities were still under maintenance yet market overall supply remained ample. In-factory and port inventories stayed high. Since weekends, price sharply rose CNY50-100/t due to the up-regulated coal cost. Meanwhile, intl’ urea avg. price came up to USD410/t FOB, impacted by the geopolitical conflict and concurrently purchases from Brazil, Argentina and the US.
KCl 62% grade (Belarus) spot price stood at CNY3,080-3,150/t. Port inventory remained high and domestic potash output stayed stable, leading to ample market supply. Downstream compound-fertilizer producers restocked on demand basis. Autumn-fertilizer preparation was slow, resulting cautious buying and limited new deals. International MOP CFR reference price was USD390-405/t. Traders face heavy inventory pressure, KCl price is lack of support.
CAN EXW price was stable. Manufacturers maintained normal operation with stable supply. Domestic autumn-fertilizer rigid demand was limited; downstream buyers placed small volume orders on demand basis. Export side, traders rushed cargoes during the window open period to avoid any potential risk of restriction again. Raw material cost offered support while domestic and overseas demand showed no obvious growth.
SOP price of Mannheim process 52% powder grade stood at CNY4,120-4,180/t with mild drop. The factories operated at moderate rate, bringing sufficient supply. Raw material KCl still has some cost support yet downstream demand lacked improvement.
