中国磷化工月报(中国磷行业月度报告202210)

Yellow phosphorus prices dropped in Oct. 2022 as downstream performance was poor. Yellow phosphorus prices are likely to inch down slightly in the short term; if the prices fall below USD4,648.41/t (RMB33,000/t), yellow phosphorus enterprises may together hold high their prices, so the price decrease is estimated to be narrow.

Currently, raw material costs provide support for ammonium phosphate prices to some extent but downstream customers mainly take wait-and-see attitudes; there is still no favourable policy for export. Ammonium phosphate prices are unlikely to grow in the short run.

In Sept. 2022, China produced around 10.99 million tonnes of phosphorus ore (30% P₂O₅), up by 19.5% YoY. In Jan.–Sept. 2022, China altogether produced 78.27 million tonnes, up by 4.1% YoY.

Company dynamics of phosphorus chemicals in Oct.

On 25 Oct., 2022, Nantong Jiangshan Agrochemical and Chemicals Co., Ltd. announced that the company intended to establish PMIDA mother liquid wastewater optimisation and upgrading project, flame retardant project (phase II), and wharf renovation project.

On 13 Oct., 2022, LB Group Co., Ltd. announced that the company's production lines of the 200,000 t/a battery material grade FePO₄ project (phase I: 50,000 t/a FePO₄) and 200,000 t/a li-ion battery material industrialisation project (phase I: 50,000 t/a LiFePO₄ have been completed and put into production.

On 8 Oct., 2022, Nantong Jiangshan Agrochemical and Chemicals Co., Ltd., the People's Government of Weng'an County, Guizhou Province and Wengfu (Group) Co., Ltd. signed the Phosphorus Chemical Circular and Integrated Industrial Chain Project Investment Cooperation Intention Agreement in Weng'an County.

On 20 Sept., 2022, Yunnan Yuntianhua Co., Ltd. announced that it intended to construct a "battery new material precursor supporting 4.50 million t/a phosphorus ore flotation project".

The USD/RMB exchange rate in this newsletter is USD1.00=RMB7.0992 on 10 Oct., 2022, 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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