For the First Quarter of 2022
Bone phosphate of lime prices in Asia-Pacific exhibited a swaying pattern in the first quarter of 2022, mirroring the trend in North America. Inconsistent demand from end-user industries was the primary cause of price volatility. Furthermore, the supply rate fluctuated, with its retail prices ranging from 2100 USD/MT in January to 1900 USD/MT in February.
Bone phosphate of lime prices in Europe followed the same pattern as they did in North America and the Asia-Pacific region. During the first quarter of 2022, prices were very volatile due to erratic downstream demand. Finally, the price in Germany was estimated at 3295 USD/MT CFR Hamburg in January 2022, before declining in February and then rising in March 2022.
Price in the North American market varied in the first quarter of 2022 due to an inconsistent demand and supply imbalance. Throughout the quarter, the consumption of the chemical in the food and healthcare industries observed a see-saw pattern, resulting in price volatility. Furthermore, the volatile cost of the raw material yellow phosphorus affected the bone phosphate of lime market, causing prices to fluctuate even more. Finally, in January, bone phosphate of lime prices in the United States were 3120 USD/MT, which declined to 2985 USD/MT in February.
For the Fourth Quarter of 2021
The Asian market was shaken by shifting supply chain dynamics, as China's output cuts placed pressure on neighbouring countries. Due to China's dual energy strategy and subsequent production limits enforced to minimise emissions ahead of the Winter Olympics, prices of various commodities, notably bone phosphate of lime, have risen significantly in the regional market. Following an exponential rise in the price of yellow phosphorus as a raw material, China began importing yellow phosphorus from Vietnam, reducing availability in the worldwide market, as Vietnam is the largest producer of yellow phosphorus. Meanwhile, the changing market trend in China has perplexed the Indian market, which is heavily reliant on China for imports. These concerns pushed up the chemical’s costs in India, which were hovering at 2148 USD/MT.
During this quarter, the European market, like other areas, had a similar market trend. Global raw material constraints affected the European market as well, driving increasing the price of yellow phosphorus. Europe also imports yellow phosphorus from Kazakhstan and Vietnam, and as a result of the product's scarcity in China, raw material costs have risen in Europe as well. Furthermore, Europe had to deal with another issue: rising natural gas prices, which was the primary cause of increased production costs. The price of the chemical increased as a result of these price increases across the regional market.
The price of BPL in the US market increased due to a global scarcity of raw materials caused by production halts in China. Despite sluggish domestic demand, the price remained stable during the quarter. Because China is the world's largest producer of yellow phosphorus, a key feedstock for bone phosphate of lime, production cuts there impacted the worldwide supply chain for the raw material yellow phosphorus, causing prices to spike in a short period of time. Bone phosphate of lime prices surged sharply in the final week of December, under pressure from high raw material prices.
For First, Second and Third Quarters of 2021
Supply in the Asia Pacific area improved as commercial and market activity has increased. During China's annual downtime, the spring holiday, industrial production suffered a setback. Demand was strong, as pharmaceutical and technical grade offtakes were stable, while demand for the feed grade from the personal care and cosmetics industry increased. In March, prices in India were estimated to be approximately 822 USD/MT. In Q3 2021, the Asia Pacific region's market forecast for the chemical improved significantly. Prices skyrocketed in Asian markets due to rising phosphoric acid prices in the region as a result of increased worldwide demand. Bone phosphate of lime prices in India rose this quarter, owing to strong demand from downstream sectors and a global increase in the feedstock phosphoric acid costs. Furthermore, the price of the chemical in this quarter was impacted by expensive imports from other countries due to high freight costs and a scarcity of shipping containers. In September, Bhiwandi prices closed at 1042 USD/MT, a considerable increase of 154 USD/MT over July.
The fundamentals of the European market have been affected by restricted supplies, raw material pricing increases, and continuous supply constraints owing to global disruptions. Furthermore, regional imports were restricted when exports from the United States fell, followed by congestion on the Asia-Europe trade lines. However, due to consistent uptakes from the downstream pharmaceutical, cosmetics, and personal care sectors, demand remained stable. The market for the chemical in Europe increased in the third quarter of 2021. Bone phosphate of lime prices rose across the area as the value of the feedstock phosphoric acid increased and demand remained steady. Furthermore, fewer imports from the international market owing to the impact of Hurricane Ida, as well as congestion at many Chinese ports, further constrained supply, driving up bone phosphate of lime prices in the region. Furthermore, increased energy costs in Europe as a result of the natural gas crisis pushed prices to new highs in Q3.
During Q1 2021, the chemical’s market saw balanced demand from the personal care, cosmetics, and pharmaceutical sectors. The supply fundamentals, however, were significantly impeded by the low availability of calcium hydroxide and phosphoric acid feedstock as a result of the sub-zero temperatures in the Gulf of Mexico, which impacted the region's entire supply networks. Bone phosphate of lime prices in the region rose due to supply limitations and high demand. Price increased in North America in Q3 2021, owing to an increase in the price of the feedstock phosphoric acid. Furthermore, demand for BPL from downstream manufacturers grew in this quarter, leading to an increase in bone phosphate of lime prices across the area. Furthermore, due to decreased production levels as a result of Hurricane Ida, as well as logistical challenges, BPL values rose in this era on both the North American and worldwide markets.
For the Year 2020
Following a solid recovery from the COVID-19 recession, the Asian market boomed in Q4 2020. Due to the considerable resurgence of household and industrial activity in China following COVID 19, a worldwide BPL supplier reported that they had healthy demand from China during the fourth quarter. In addition, the new white phosphoric acid (WPA) factory of ICL Group, a renowned worldwide speciality minerals and specialty chemicals firm, was planned to be completed in China by the first quarter of 2020. This project was supposed to improve market sentiments and the availability of phosphoric acid feedstock in the region. Furthermore, the COVID-19 recovery enhanced BPL demand in India, mostly from the health and nutrition sectors. Due to increased demand, bone phosphate of lime prices increased from 696.3 USD/MT in October 2020 to 757.5 USD/MT in October 2021.
BPL demand in Europe increased in the fourth quarter of 2020 compared to the previous quarter. The nutritional supplement industry accounted for the majority of the demand. Feedstock phosphoric acid for residential use rose over the region. The price of phosphoric acid was reported to be high in the region due to limited material transportation across Asian ports and unfavourable production activities as a result of the second wave of COVID-19.
BPL demand in North America remained constant in the fourth quarter of 2020. The demand for industrial grade phosphates and acid was greater before Q4 2020. The market transitioned to food-grade phosphates and acids later in the fourth quarter. The price of the feedstock phosphoric acid increased while demand and supply remained unchanged. Throughout the quarter, a large BPL supplier reported consistent sales volume, but increased figures over the previous quarter.
Procurement Resource provides latest prices of Bone Phosphate of Lime. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides prices of Bone Phosphate of Lime for several regions around the globe, which are as follows:
About Bone Phosphate of Lime
The calcium salt of phosphoric acid, tricalcium phosphate, also known as bone phosphate of lime is a low-solubility white solid. The majority of commercial "tricalcium phosphate" samples are actually hydroxyapatite. It comes in three different crystalline polymorphs: α, α', and β. At high temperatures, the α and α' states remain stable.
Phosphate rock is combined with soda ash before being ground and palletized in this process. The processed mixture is then mixed to phosphoric acid, which is then transferred to a rotary kiln, resulting in the creation of BPL.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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