In May 2026, yellow phosphorus price rose on high costs and tight supply. MAP remained elevated, supported by strong costs from high sulphur and phosphate rock prices; downside limited despite weaker agricultural demand, as industrial demand sustained prices. DAP also saw limited downside from cost support, but flat domestic demand and limited exports left prices in a high‑range stalemate.
November corporate developments
- On 19 May, 2026, the EI report for the technical transformation project on yellow phosphorus, phosphorus slime recovery and environmental protection engineering of Weng'an Longma Phosphorus Industry Co., Ltd. was disclosed for public consultation.
- On 16 May, 2026, Yunnan Yuntianhua Co., Ltd. announced that its associate, Yunnan Yuntianhua Polyphosphate New Materials Co., Ltd., will invest in the 10 million t/a Wanchang phosphorus ore project.
- On 12 May, 2026, Hubei DSphos Co., Ltd. filed a Main Board listing application with the Hong Kong Stock Exchange.
- On 9 May, 2026, the EI report for the 2,000 t/a hypophosphorous acid construction project of Shineng Hengchang (Zhangjiagang) Fine Chemical Co., Ltd. was proposed for approval.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB6.8562 on 6 May, 2026, sourced from the People's Bank of China. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
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