China's Phosphate Ore Imports Surge in Post-Pandemic Era, Expected to Maintain Annual Volume Above 2 Million mt Over Next Five Years

From 2021 to 2025, China's phosphate ore imports reflected characteristics of the post-pandemic era, with a significant increase in import volume.

Phosphate ore imports surged from 65,000 mt in 2021 to 2.0683 million mt in 2024, as domestic phosphate ore prices increased and the import window opened, leading to higher import reliance among enterprises purchasing phosphate ore externally along the rivers and coasts. Although imports pulled back to 1.7198 million mt in 2025, and import reliance decreased somewhat.

However, in the long term, high-quality phosphate ore remains a scarce resource. As new energy demand increases, import volumes are expected to jump accordingly, maintaining an annual volume of over 2 million mt in the next five years.

Price-wise, the import unit price peaked at $103.15 in 2023, then continued to pull back, dropping to $90.53 in 2025. Import prices are projected to fluctuate between $95 and $110 over the next five years.

In summary, with the continuous development of the domestic new energy industry, the supply of high-quality phosphate ore resources has tightened, making imported phosphate ore a favorable supplement. China's phosphate ore imports are expected to maintain an annual volume of over 2 million mt and show a growing trend from 2026 to 2030.