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SunSirs: The Potassium Nitrate Market in Shanxi Fluctuated Slightly in March
March 29 2024 14:12:52SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, at the beginning of the month, the price of Shanxi industrial grade first-class potassium nitrate was quoted at 5,175.00 RMB/ton, and at the end of the month, the price of Shanxi industrial grade first-class potassium nitrate was quoted at 5,112.50 RMB/ton, a decrease of 1.21%. The price had dropped by 14.22% year-on-year.

Analysis review

The domestic potassium nitrate market fluctuated in March, and it can be seen from the above chart that the potassium nitrate market had been fluctuating and declining for three consecutive months, with slight fluctuations this month. The raw material market was fluctuating downward, with poor cost support. The competition pressure in the potassium nitrate market was increasing, and downstream factories had limited purchasing enthusiasm, mainly based on demand. The price of potassium nitrate fluctuated slightly. According to statistics from SunSirs, mainstream domestic potassium nitrate manufacturers had recently quoted 4,800-5,000 RMB/ton (for reference only), and the prices varied depending on the procurement situation.

According to the Commodity Analysis System of SunSirs, the overall trend of potassium chloride market in March was downward. The final price of 60% potassium chloride in Qinghai was around 2,200 RMB/ton, with limited new transactions. The self delivery price of 62% white potassium chloride at the port was around 2,200 RMB/ton. The self delivery price of 60% bright red particles potassium chloride at the port was around 2,300-2,400 RMB/ton. Border trade accounted for 62% of Russian white potassium chloride at around 2,150 RMB/ton.

Market outlook

As of March 27th, no new goods had arrived at the potassium chloride port, and downstream factories were not actively purchasing raw materials. It is expected that the price of potassium nitrate will mainly rebound from the bottom in the short term, and the long-term market still needs to wait and see.

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