Phosphorus Chemical Weekly: Yellow Phosphorus Stops Falling and Rebounds, Two Acids Diverge, Industrial Ammonium Bottoms Out [SMM Analysis]

This week, the phosphorus chemical sector showed clear structural divergence. Yellow phosphorus had undergone sufficient price cuts and destocking earlier, and this week it stopped falling and recovered slightly, supported by supply-side price holding and cost support, but downstream stocking remained cautious and demand had not yet recovered in substance. The phosphoric acid market saw sluggish trading, with wet-process and thermal-process cost trends diverging; coupled with the release of new