磷化工景气周期延续（Phosphorus chemical cycle continues）.docVIP

磷化工景气周期延续（Phosphorus chemical cycle continues） This article is contributed by r8v4r3e048 Pdf documents may experience poor browsing on the WAP side. It is recommended that you first select TXT, or download the source file to the local view. 2008/08/07 Chemical / fine phosphorus chemical industry Industry research Tracking report Phosphorus chemical cycle continues - short term volatility for the market Holdings Maintain a fine rating of phosphorus chemical industry: Overweight Recent global phosphorus chemical and potash related stocks fell sharply. Domestic Hing Fat Group, Chengxing shares, guannonggufen since July fell 25%, 24% and 33%. International potash fertilizer, phosphate fertilizer leading enterprises, Potash and Mosaic shares also fell by about 20% over the same period. We note that the recent market has focused on the International (mainly India) phosphate ore market. India phosphate ore CIF price from the beginning of the July $440 / ton in the late fall to $330 / ton, is currently re up to 363 U.S. dollars / ton. 4-8 months a year is the global phosphate demand off-season, 6-7 months is the traditional rainy season in India. The fluctuations are regional, seasonal, short callback, does not have the significance of indicators. In the context of the phosphate chemical boom, the trend of the rise of the middle (2010) phosphate rock has not changed. The more worrying aspect of the market is that a rapid drop in oil and food may weaken the boom in the chemical and potash industries. With time to improve supply and demand, it is difficult for oil to fall back to its 07 year level. Corn and wheat, although a bit down, are still at historically high levels, with soybeans and rice strong. The rise of biofuels has made food both an attribute of energy, coupled with very low inventories, and global food prices are unlikely to fall substantially. In the agricultural bull market, the United States, Brazil and other traditional agricultural power, grain production h