In Sept., both Hubei Xingfa Group and Guizhou Wengfu Group have set up new R&D centers, indicating that China's phosphorus related manufacturers start to focus more on developing new technologies and solutions to common problems and promoting the comprehensive utilisation of phosphorus resources.
In Sept., the prices of domestic phosphorus ore decreased sharply by more than 10% owing to phosphate fertilizer manufacturers’ production halt and equipment overhauling for confronting the coming long off-season, this may also partially led to Yuntianhua’s (Yunnan Yuntianhua Co., Ltd.) significant revenue and profit loss in H1 2013. On Sept. 25, Yuntianhua also announced another reorganization to peel off its non-performing glass fibre assets.
In the past several months, the price of domestic yellow phosphorus had been increasing due to the strong demand from downstream pesticides industry, which also correspondingly raised the prices of phosphoric acid and fine phosphorus chemicals although they had been faced with some extent of surplus. The hot-process phosphoric acid market in China was also under stress as impacted by the cheaper wet-process phosphoric acid produced by Wengfu-Dazhou Chemical Co., Ltd.
Average exchange rate in Sept. 2013, USD:CNY=1:6.13
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