China's Phosphate Ore Imports Drop 36.4% MoM in May, Egypt Share Surges to 98%

China's Phosphate Ore Imports Drop 36.4% MoM in May, Egypt Share Surges to 98%

In May 2026, China imported 131,000 mt of phosphate ore, down 36.4% from April, with the average price easing 2.6% to $93/mt. The sharp decline was driven by the sudden halt of Peruvian and Jordanian supplies – both major sources in April – leaving Egypt as the sole dominant supplier (128,000 mt, 98% share). Meanwhile, Hubei, which had topped provincial imports in April, recorded zero imports in May, while Guangxi rebounded to first place with 78,000 mt. Exports more than doubled to 32,000 mt, led by Hubei's return to the market.

Notably, Egypt's decision on May 13 to stop signing new phosphate export contracts adds significant supply uncertainty going forward, likely pushing up costs and tightening availability. The concurrent recovery of exports from Hubei and Guizhou suggests a rebalancing of domestic regional supply-demand dynamics.

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