SunSirs: The Market of Potassium Nitrate in Shanxi Declined in October

Price trend

According to the Commodity Market Analysis System of SunSirs, at the beginning of the month, Shanxi's industrial grade first-class potassium nitrate was quoted at 5,550.00 RMB/ton. At the end of the month, Shanxi's industrial grade first-class potassium nitrate was quoted at 5,350.00 RMB/ton, a decrease of 3.60%. The price had decreased by 13.18% compared to last year.

Analysis review

In October, the domestic potassium nitrate market fell. From the above chart, it can be seen that the recent potassium nitrate market had been fluctuating and declining for two consecutive months, and the market continued to decline this month. The raw material market is volatile and weaker, with poor cost support, supply of potassium nitrate was abundant, and prices followed the trend of cost to decline. According to statistics from SunSirs, mainstream domestic manufacturers of potassium nitrate had recently quoted 5,100-5,500 RMB/ton (for reference only), and the prices varied depending on the procurement situation.

According to the Commodity Analysis System of SunSirs, the overall market for potassium chloride in October showed a trend of first falling and then rising. The prices of potassium chloride in Saltlake and Zangge were temporarily stable. The downstream market of potassium chloride had slightly declined, and downstream demand had weakened, and the procurement was mainly based on demand. The circulation of potassium chloride was tight, and the supply of goods at the port had slightly increased. Analysts from SunSirs believe that domestic potassium chloride import prices may slightly increase in the short term.

Market outlook

As of October 27th, the circulation of goods in the domestic potassium chloride market was limited, and there was an expectation that potassium chloride would rise, with good cost support. It is expected that the price of potassium nitrate will mainly rise in the short term, and the long-term market still needs to wait and see.

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