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China's phosphate ore output reached a record of about 14 million mt in October 2025, measured as 30% P2O5 equivalent. Demand from the new energy sector, especially LFP battery materials, was strong while traditional agricultural demand was subdued.
Record output against weak agricultural demand is bearish for phosphate rock, while strong battery-sector demand partly offsets that pressure on the supply side.
metal.comOct 31, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
