Phosphoric Acid prices in the global market saw a decline by mid-December. This downturn in the Phosphoric Acid price is largely attributed to the supportive pricing of its key feedstock, Phosphate rocks. Despite this, manufacturers reported healthy sales volumes, driven by mixed demand from international markets. Additionally, favourable currency fluctuations played a significant role in maintaining the supportive exporting price of Phosphoric Acid.

The price of Phosphoric Acid in Morocco has declined as of mid-December, reflecting shifting market dynamics. A reduction in phosphate rock prices, driven by weaker high-end consumption during Q4, has eased Phosphoric Acid production costs. However, rising Sulphuric Acid prices have only partially offset these cost reductions. Despite strong export volumes, manufacturers have adjusted Phosphoric Acid prices downward to align with global market trends and address fluctuating feedstock costs.

Supply conditions remain stable, supported by steady export activities. Line-up data indicate that 112,000 tons of phosphoric acid solution are scheduled to depart from Jorf Lasfar in December, with 30,000 tons already shipped to Pakistan and 10,000 tons of purified phosphoric acid enroute to Belgium. Year-to-date exports from Morocco total 1.2 million tons, highlighting consistent market availability.

According to OCP Group, global phosphate fertilizer prices rose in Q3 2024, driven by supply constraints from China and strong demand in Europe and Africa. While demand in India has softened, regions like Pakistan and Oceania have shown significant growth. Brazil also experienced a recovery, with demand slightly surpassing year-over-year levels as farmers addressed earlier purchasing delays.

The price of industrial-grade Phosphoric Acid in the European market has declined as of mid-week of Dec, influenced by recent market shifts. While demand remains moderate, the reduction in Phosphate Rock prices, driven by lower high-end consumption in Q4, has put downward pressure on production costs. Sulphuric Acid prices, which increased by 1.9% in November, have not been sufficient to offset the decrease in Phosphoric Acid pricing.

Manufacturers have adjusted to these fluctuating feedstock costs by lowering Phosphoric Acid prices, as steady but moderate demand and stable import volumes have not supported higher pricing. The combination of these factors has led to the recent price decline in the European Phosphoric Acid market.

According to ChemAnalyst's projections, Phosphoric Acid prices in the global market are expected to trend downward in the coming sessions. This anticipated bearishness is largely attributed to a forecasted decline in demand from major importers such as India and Pakistan, which will negatively affect Phosphoric Acid exports from Morocco. Additionally, surplus inventory levels are expected to exert further downward pressure on prices, contributing to the overall pricing downturn in the near future.