Xinyangfeng told analysts on Oct. 26 it is optimistic on the 2027 phosphate
fertilizer and compound fertilizer markets, citing three drivers. First, a
retreat in sulfur prices would remove the main cost headwind from 2026 and allow
phosphate margins to recover; despite elevated sulfur in 2026 the company’s
volumes in the first nine months were roughly flat with 2025, implying upside
when sulfur falls. Second, a 2026 sulfur spike above 10,000 yuan severely
suppressed demand and left downstream inventories near zero, creating
incremental demand space for 2027. Third, the company expects its
phosphogypsum-to-acid unit to start production in Q3 2027, after which it
anticipates product costs materially below peers, supporting sales. Overall
Xinyangfeng expects 2027 volumes and profitability for compound fertilizer and
MAP to be stronger than in 2026.
