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 in

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.