SunSirs: The Potassium Nitrate Market in Shanxi Rose in November

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 5,375.00 RMB/ton, and at the end of the month, the price of Shanxi industrial grade first-class potassium nitrate was quoted at 5,475.00 RMB/ton, an increase of 1.86%. The price had dropped by 6.81% year-on-year.

Analysis review

In November, the domestic potassium nitrate market rose, and it can be seen from the above chart that the potassium nitrate market had mainly risen in recent months. This month, the market continued to fluctuate upwards, with the increase greater than the decrease. The raw material potassium chloride fluctuated and rose, with good cost support. Potassium nitrate followed the cost increase, and manufacturers shipped normally. The potassium nitrate market slightly rose. According to statistics from SunSirs, mainstream domestic potassium nitrate manufacturers hadrecently quoted 5,200-5,500 RMB/ton (for reference only), and the prices may varied depending on the procurement situation.

According to the Commodity Analysis System of SunSirs, the overall trend of potassium chloride market in November was fluctuating and rising. As of the end of the month, the self delivery price of 62% Russian white potassium chloride in border trade was around 2,900 RMB/ton. The prices of potassium chloride in Saltlake and Zangge had increased, creating a favorable market atmosphere. SunSirs' potassium chloride analyst believes that domestic potassium chloride import prices may slightly increase in the short term.

Market outlook

As of the end of November, the domestic potassium chloride market has been on the 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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