SunSirs: The Potassium Carbonate Market in Shanxi Declined in 2023

Price trend

According to data monitored by SunSirs, at the beginning of the year, the mainstream ex factory price of Shanxi light potassium carbonate, including tax, was 9,100.00 RMB/ton. At the end of the year, the mainstream ex factory price of Shanxi light potassium carbonate, including tax, was 7530.00 RMB/ton, a decrease of 17.25%. The lowest price of Shanxi light potassium carbonate for the whole year was 7,100.00 RMB/ton on August 11th, with the largest decline of 21.98%.

Analysis review

The decline in the potassium carbonate market in 2023 was greater than the increase. From the above chart, it can be seen that the potassium carbonate market had been on a downward trend for 7 months of the year, with a decline for 4 months. The highest increase was in September, with a maximum increase of 1.89%. The largest decline occurred in June, with a maximum drop of 5.38%. The continuous decline in the potassium carbonate market was mainly due to the overall low volatility of the raw material potassium chloride market, poor cost support, poor downstream operating rates, weak transactions in the potassium carbonate market, and a continuous decline in the market.

In 2023, the potassium chloride market showed a trend of first falling and then rising. The domestic potassium chloride market had poor transactions throughout 2023, with abundant port inventory. In the first half of the year, the supply of potassium fertilizer for the China Europe freight train increased, and agricultural demand weakened, while industrial demand was average. Downstream enthusiasm for purchasing potassium chloride weakened. The market was declining. Although the autumn fertilizer preparation was launched earlier in the second half of the year, the improvement of the potassium fertilizer market was limited. Throughout the year, the decline was greater than the increase, which could not provide strong support for potassium carbonate.

Market outlook

Recently, port inventories had been high, and the market for potassium chloride was not optimistic. Downstream market demand was weak, and it is expected that the price of potassium carbonate will mainly decline in the short term. The long-term market still needs to wait and see.

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