Welcome to CCM's new issue of Phosphorus Industry China Monthly Report in July 2013.
China's marcoecomomic situation is still ambiguous. On July 9 the National Bureau of Statistics of China issued June CPI figures, which rose 2.7% year on year, 0.6 point more than that in May. At the same time, the PPI fell by 2.7% year on year and fell by 0.6% month on month to 50.1. As for H1 2013, the PPI dropped by 2.2% compared with that in the last year. Total imports and exports in June decreased by 2.0% year on year, amid the exports decreased by 3.1% and imports decreased by 0.7%.
Domestic yellow phosphorus is expected to suffer increased risks of sales stalling as a result of the tough downstream market and intensifying competition from substitutes. Chinese phosphate fertilizer producers' only possible outcome—exporting to India market has been shattered by the depression of the Indian rupee. In the meantime, global trade in phosphate fertilizer continues to weaken. Particularly, India, the world's largest importer of phosphate fertilizer, has been suffering weakening demand, while Brazil, another important consumption country of phosphate fertilizer, is to largely slash its fertilizer imports in the next few years.
Average exchange rate in June 2013, USD:RMB=1:6.18
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