Sinochem Fertilizer (00297) rose by more than 4% and rose 4.71% at press time to report at HK$0.89, with a turnover of HK$6.03 million.
The Zhitong Finance App learned that Sinochem Fertilizer (00297) rose by more than 4% and rose 4.71% as of press release to HK$0.89, with a turnover of HK$6.03 million.
Guotai Junan recently stated that phosphate fertilizer prices picked up in the fourth quarter of 2023 as domestic demand for winter storage was released and procurement demand continued from overseas regions such as Southeast Asia and Europe. Entering the first quarter of 2024, domestic and foreign demand declined, and phosphate fertilizer prices were weak. The bank believes that in the future, with the start of demand for fertilizer for spring farming and the release of chemical fertilizer subsidies in India, phosphate fertilizer trading sentiment is expected to pick up and maintain the industry's “gain” rating. Currently, the winter storage demand for phosphate fertilizer is nearing its end. In the future, we will gradually usher in the peak season for fertilizer for spring farming and a new year of overseas bidding.