SunSirs: Potassium Nitrate Market Rose This Week (November 1-9)

Price trend

According to the Commodity Market Analysis System of SunSirs, the industrial grade first class potassium nitrate in Shanxi was reported at 5,375 RMB/ton at the beginning of the week, and 5,425 RMB/ton at the end of the week, an increase of 0.93% and a month on month decrease of 2.25%. The price had dropped by 7.66% year-on-year.

Analysis review

The domestic potassium nitrate market had risen this week. From the above chart, it can be seen that after a continuous month of decline in the potassium nitrate market, the market had bottomed out and rebounded this week. Recently, the domestic potassium chloride market had been fluctuating and rising, with reasonable cost support. Downstream procurement remained in demand, and manufacturers shipped according to orders, resulting in an increase in the market. According to statistics from SunSirs, mainstream domestic manufacturers of potassium nitrate quoted 5,100-5,300 RMB/ton this week (for reference only), and the prices varied depending on the procurement situation.

Recently, the prices of mainstream domestic potassium chloride manufacturers had fluctuated and increased: the prices of Saltlake and Zangge potassium chloride had temporarily stabilized. The downstream market of potassium chloride had slightly increased, and downstream demand had increased, with procurement mainly being based on demand. The circulation of potassium chloride was tight, and the supply of goods at the port had slightly increased. In the short term, the import price of domestic potassium chloride may slightly increase.

Market outlook

Recently, the domestic potassium chloride market was on the rise. As of November 9th, the price of imported 62% white potassium was mostly between 2,930-2,980 RMB/ton, and downstream purchases were still in demand. It is expected that the price of potassium carbonate will mainly rise in the short term, and the long-term market still needs to wait and see.

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