In Feb. 2023, yellow phosphorus prices continuously went down and even dropped close to the cost line; the prices rebounded in late this month due to the rumours about power cuts and environmental inspection.
Demand in ammonium phosphate market is sluggish and prices maintain stability with slight fluctuations in March 2023. Ammonium phosphate prices are likely to stay stable in the near future and prices may fluctuate within a small range in some regions given the changes of market supply and demand.
In March 2023, China produced around 13.48 million tonnes of phosphorus ore (30% P2O5), down by 6.9% YoY.
Company dynamics of phosphorus chemicals in March
On 17 March, 2023, Shandong Fengyuan Chemical Co., Ltd. planned to invest USD360.23 million (RMB2.50 billion) in building a FePO4 project and an oxalic acid project.
On 15 March, 2023, Hunan Yuneng New Energy Battery Material Co., Ltd. announced to use over raised capital of USD293.73 million (RMB2.04 billion) for the construction of Guizhou Yuneng New Energy Battery Material Co., Ltd.'s phosphorus chemical project.
On 15 March, 2023, Yunnan Yuntianhua Co., Ltd. announced to purchase shares of two companies to enhance its layout of fertiliser and new energy sectors.
In mid-March 2023, Anhui Liuguo Chemical Industry Co., Ltd. released several announcements concerning the capital raising for the construction of the 280,000 t/a battery grade refined PA project after deduction of issue expenses.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB 6.9400 on 1 March, 2023, sourced from the People's Bank of China.
All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
If you would like to cover any specific topics or investigate any covered subjects in more details, please contact us on +86-20-37616606, or econtact@cnchemicals.com
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