Price trend

According to the Commodity Market Analysis System of SunSirs, the industrial grade first class potassium nitrate in Shanxi was quoted at 5,450 RMB/ton at the beginning of the week, and 5,525 RMB/ton at the end of the week, an increase of 1.38% and up 2.31% month on month. The price had dropped by 18.75% year-on-year.

Analysis review

The domestic potassium nitrate market had risen this week. From SunSirs’ data, it can be seen that after a month of continuous increase in the potassium nitrate market, the market continued to rise this week. The market price of potassium chloride on the cost side had increased, with good cost support. Potassium nitrate inventory had decreased rapidly compared to the previous period, and the source of goods was mostly in the hands of traders. They were reluctant to sell, and there were fewer available sources of goods in the market, resulting in an market increase. According to statistics from SunSirs, the mainstream quotation of domestic manufacturers of potassium nitrate was 5,300-5,500 RMB/ton this week (for reference only), and the prices varied depending on the procurement situation.

Recently, the prices of mainstream potassium chloride of domestic manufacturers had fluctuated and increased: on September 8th, the distribution price of potassium chloride of Zibo Dehe Chemical Co., Ltd. was around 3,100 RMB/ton, the prices remained stable temporarily and the actual transaction price wass mainly negotiated. On September 8th, Shandong Xinkaisheng Chemical Technology Co., Ltd. sold potassium chloride at a price of around 3,000 RMB/ton. Analysts from SunSirs believe that domestic potassium chloride imported prices may slightly increase in the short term.

Market outlook

Recently, the market price of domestic 60% crystal potassium chloride was mostly between 2,700-2,750 RMB/ton, and new sources of border trade were gradually opening up. Downstream procurement remained in demand, and it is expected that the price of potassium carbonate will mainly rise in the short term, while the long-term market still needs to wait and see.

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