SunSirs: Potassium Nitrate Market Rose This Week (November 10-17)

Price trend

According to the commodity market analysis system of SunSirs, the industrial grade first class potassium nitrate in Shanxi was quoted at 5,425 RMB/ton at the beginning of the week, and the industrial grade first class potassium nitrate in Shanxi was quoted at 5,437.50 RMB/ton at the weekend, an increase of 0.23%, a month on month decrease of 0.23%, and the price had decreased by 7.05% year-on-year.

Analysis review

The domestic potassium nitrate market had risen this week. From the above chart, it can be seen that the recent potassium nitrate market had been rising for three consecutive weeks, and the market continued to rise this week. Recently, the domestic potassium fertilizer market had seen a slight increase in prices, with acceptable cost support and a positive trading atmosphere, resulting in an upward trend 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 consolidated: the prices of Saltlakes and Zangge potassium chloride temporarily stabilized. 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

Recently, the domestic potassium fertilizer market had been on the rise, with limited supply of goods in the market. The port price of imported 62% white potassium chloride was basically 2,950-2,980 RMB/ton. It is expected that the price of potassium nitrate will mainly increase in the short term, and the long-term market still needs to wait and see.

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