Phosphoric Acid Prices Extend Gains on Tight Supply and Strong Fertilizer Demand

Phosphoric acid prices moved higher into early April as tighter upstream phosphate rock supply, elevated sulphur costs, and sustained bullish momentum pushed market sentiment firmer. Early April trading saw a renewed bout of activity after a mid-March rally that had already tightened availability and prompted sellers to hold firm. Buyers remained cautious, largely replenishing inventories for immediate requirements rather than pursuing speculative purchases, which kept spot liquidity limited and prevented any meaningful correction.

From the demand front, the fertilizer sector remained the primary driver of gains, with phosphoric acid serving as a key intermediate for DAP and MAP production. Agricultural demand stayed robust, supporting a sustained multi-week bullish trend in the Phosphoric Acid price. In contrast, industrial buyers offered only moderate support, maintaining steady consumption without aggressive restocking. Overall, market conditions reflected firm underlying fundamentals, with consistent fertilizer offtake keeping sentiment constructive...