SunSirs: Demand Was Limited, and Potassium Sulfate Prices Declined
October 17 2023 14:09:50 SunSirs (John)
Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the price of potassium sulfate with 50% content at the beginning of this week was 3,450 RMB/ton, and the price of potassium sulfate with 50% content at the end of this week was 3,433 RMB/ton, with a price increase of 0.48%.
Analysis review
The domestic potassium sulfate market prices declined, and the demand for potassium sulfate was limited. Therefore, the bearish impact of potassium sulfate was significant, with prices falling and transactions not performing well. Driven by a small number of bidding orders from some downstream large factories, the price of potassium sulfate had dropped accordingly. As of October 13th, the factory price of 50% Mannheim potassium sulfate powder was mostly between 3,300-3,400 RMB/ton, and the factory price of 52% potassium sulfate powder was between 3,400-3,600 RMB/ton. The actual transaction price was mainly negotiated.
The autumn market had ended, and the winter storage market had not been actively launched. The market entered a gap of time when there is a shortage of opportunities, and the overall procurement of raw materials by downstream compound fertilizer factories was not positive. In addition, the price of potassium fertilizer was still declining, which affected procurement enthusiasm. Manufacturers mainly purchased according to demand, and transactions were limited.
Market outlook
The domestic potassium fertilizer market had shown a weak and declining trend, and it is expected that the price of potassium sulfate market will mainly fluctuate in a narrow range.
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