2026 National Day Holiday Phosphate Ore Market Review: In the Doldrums, Supply-Demand Weakness on Both Sides [SMM Analysis]
[SMM Analysis: 2026 National Day Holiday Phosphate Ore Market Review: In the Doldrums, with Both Supply and Demand Weak] During the 2026 National Day holiday, phosphate ore was in the doldrums, with both supply and demand weak and prices consolidating. Supply contracted due to environmental protection checks in Sichuan and Guizhou and seasonal production restrictions; demand was front-loaded with pre-holiday stockpiling, downstream operating rates were low, and only new energy demand remained relatively strong. The market outlook focuses on post-holiday demand recovery and policy implementation. In the medium and long term, high-grade ore values will be reassessed, low-grade ore will remain under pressure, and integrated leaders will benefit.