Price trend
According to the commodity market analysis system of SunSirs, this week Shanxi's industrial grade first-class potassium nitrate was priced at 5,087 RMB/ton, a decrease of 1.69% compared to the previous week. The price had dropped by 13.77% year-on-year.
Analysis review
This week, the domestic potassium nitrate market had been volatile and consolidating. From the above chart, it can be seen that after a continuous slight increase in the potassium nitrate market, the market had remained basically stable this week. Domestic potassium manufacturers had sufficient supply, border trade sources had slightly increased, and prices had fallen. The potassium nitrate market was trading coldly, with average transactions and market consolidation. According to statistics from SunSirs, the mainstream domestic manufacturers of potassium nitrate quoted 4,800-5,000 RMB/ton this week (for reference only), and the prices varied depending on the procurement situation.
Recently, mainstream domestic potassium chloride manufacturers had seen fluctuations in their quotations. In mid to late March, the overall trend of the potassium chloride market may experience a narrow range of fluctuations and decline, with consolidation being the main trend. The prices of Saltlake and Zangge’s potassium chloride wre temporarily stable, but new transactions were limited. The downstream market for potassium chloride continued to decline, with weakened downstream demand and procurement mainly on-demand. Recently, international potassium fertilizer had also shown a weak trend. SunSirs' potassium chloride analyst believes that domestic potassium chloride import prices may slightly decline in the short term.
Market outlook
Recently, the market for potassium chloride in China had been consolidating, with downstream maintaining purchases on demand. It is expected that the price of potassium nitrate will mainly decline in the short term, while the long-term market still needs to wait and see.
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SunSirs: The Price of Adipic Acid in East China Continued to Decline This Week
Price trend
This week (3.11-15), the performance of adipic acid in East China was weak, with prices on Friday dropping by 100-200 RMB/ton compared to the beginning of the week. According to the commodity market analysis system of SunSirs, the weekly decline of adipic acid was 1.41%.
Analysis review
The price of raw material pure benzene has shown a sluggish performance, with the main decline continuing this week, and the cost performance being weak. From the perspective of supply and demand, the market performance showed that supply exceeded demand. As of March 15th, the supplier's equipment was mainly operating normally, and the demand side could not follow up in a timely manner, and the digestion of raw material adipic acid was insufficient. It resulted in a backlog of inventory in the factory, leading to continuous loosening of quotations in order to ship. The actual transaction was not satisfactory. The mainstream market prices are: 9,650-9,750 RMB/ton for Shandong sources and 9,750-9,850 RMB/ton for Jiangsu sources.
Market outlook
SunSirs predicts that in the short term, there will still be pressure on the supply and demand of adipic acid, and the operating rate of enterprises is relatively high. It is expected that the price of adipic acid will continue to be weak in the near future, and it is not ruled out that the price may continue to decline.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.