According to data monitoring by Business Society, as of March 31, 2023, the reference average price of 30% grade phosphate ore in China was around 1062 yuan/ton. Compared with March 1 (reference price of 1052 yuan/ton for phosphate ore), the basic price increased by 10 yuan/ton, an increase of 0.95%.

In March, the overall domestic phosphate ore market showed a slight fluctuation and upward trend. In the early stages, the phosphate ore market remained stable and consolidated after a slight increase. At the beginning of the month, some mining enterprises in Sichuan Province in China raised the prices of mid to high-end grade phosphate ore by a narrow margin, with an increase of about 10-30 yuan/ton. The overall focus of the phosphate ore market has slightly increased, driven by the exploration of rising prices in some regions.

In the latter half of the year, the domestic phosphate ore market experienced slight fluctuations. Due to factors such as geographical location and shipping situation, the phosphorus ore market in different regions of China has experienced slight fluctuations and fluctuations, resulting in a narrowing of the overall price difference between high and low prices on the market. As of March 31st, the domestic market price of 30 grade phosphate ore is around 1000-1100 yuan/ton. The specific price may vary depending on factors such as the original ore specifications and powder to block ratio, and the specific price needs to be negotiated based on actual orders.

Import and export data of phosphate ore from January to February 2024

In January 2024, China imported a total of 315800 tons of phosphate rock (including 315800 tons of unrolled phosphate rock and 100 kilograms of ground phosphate rock), an increase of 119800 tons or 61.12% compared to December 2023. The total import amount was 28.7277 million US dollars (including 28.7254 million US dollars for un milled apatite and 2250 US dollars for milled apatite), an increase of 66.19% compared to the previous period. The average import price was $90.95 per ton, a month on month increase of 3.16%.

In February 2024, China imported a total of 249100 tons of phosphate ore (including 151800 tons of unrolled apatite and 97300 tons of ground apatite), a decrease of 66800 tons or 26.82% compared to the previous month. The total import amount was 21.9829 million US dollars (including 13.8064 million US dollars for un milled apatite and 8.1765 million US dollars for milled apatite), a decrease of 23.48% compared to the previous period. The average import price was $24.91 per ton, a decrease of 2.96% compared to the previous month.

The cumulative import volume from January to February 2024 was 564900 tons, an increase of 512500 tons compared to the same period last year (52400 tons), a year-on-year increase of 978.11%.

In January 2024, China’s exports of phosphate ore totaled 3315 tons (all of which were unmilled apatite), a decrease of 21.85 million tons or 65.92% compared to December 2023. The total export amount was 1.0608 million US dollars, an increase of 15.78% compared to the previous period. The average export price is 320 US dollars per ton, a month on month increase of 92.09%.

China did not export phosphate ore in February 2024.

Prediction of future market for phosphate ore

At present, the overall trading volume of the domestic phosphate ore market is light and mild. Most downstream new orders for phosphate ore are mainly for rigid demand procurement, and the market continues to wait for demand to be released. The current supply and demand transmission is still good. According to the phosphate ore data analyst from Business Society, in the short term, the domestic phosphate ore market will mainly adjust and operate slightly, and the specific trend still needs to pay more attention to the impact of factors such as demand and downstream shipment. The specific trend still needs to pay more attention to the impact of factors such as demand and downstream shipments.