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Chinese reference prices for 30% grade phosphate rock rose to around 970 RMB/ton as of September 26, up 12% from 866 RMB/ton on September 1. Mid to high-end grades tightened as mine supply stayed limited while downstream restocking increased.
Phosphate rock is the feedstock for phosphoric acid and DAP/MAP fertilizers, so a firmer rock price points to higher phosphate fertilizer costs for crop producers, with knock-on effects on grain and feed input costs.
sunsirs.comSep 27, 2023Not enough comparable past events yet for a historical read.
Not 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.
