Welcome to CCM's new issue of Phosphorus Industry China Monthly Report in Nov. 2011.
Since late Oct. 2011, the exchange rate of RMB against US dollar has dropped below 6.35. Meanwhile, the economy growth starts to slow down in China. Based on the present macroscopic situation, domestic chemical industry will still see the steady growth, but in a slow way.
During this Oct., phosphorus production shows a variety of features: phosphorus ore remains stable at a high price. For yellow phosphorus, after a round of price surge in Sep., its current price has been pushed down by two factors — the depressed demand along with the sufficient supply. Meanwhile, with the spread of the electricity shortage in the nationwide, multiple provinces may face the electricity limitation again recently. It's still unclear that whether the electricity supply will be sufficient in the coming days. In addition, the government may further enhance the control of export, and phosphate fertilizer producers, the major consumers of phosphorus ore, will pay more attention to the new export policies to follow the main trend.
Generally speaking, upstream phosphorus products will be maintained at high price as a result of high cost. While the prices of downstream phosphorus products depend on the recovery of demand.
Exchange rate: 1 USD≈6.35 RMB
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