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Yellow phosphorus was the top gainer in the chain this week, driven by higher dry-season power tariffs in Yunnan and Sichuan and producers curbing output, with tender prices raised several times by over 400 yuan per tonne. Spot prices then slipped 100 yuan per tonne as downstream buyers resisted the higher prices.
Wet-process phosphoric acid prices edged up on lower upstream inventories, while industrial MAP held firm near 6,100 yuan per tonne or more.
Higher yellow phosphorus costs lift the price floor for thermal phosphoric acid and phosphate fertilizers, but weak downstream demand limits how long the rally can last. Wet-process acid is capped by new capacity and smelter-acid costs, so phosphate prices look more range-bound than strongly bullish.
newenergy.smm.cnSMMNov 13, 2026Not 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.
