SunSirs: The Potassium Nitrate Market in Shanxi Declined in January

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 5,425.00 RMB/ton, and at the end of the month, the price of Shanxi industrial grade first-class potassium nitrate was quoted at 5,175.00 RMB/ton, a decrease of 4.61%. The price had dropped by 12.47% year-on-year.

Analysis review

In January, the domestic potassium nitrate market declined. As can be seen from the above chart, the potassium nitrate market had been fluctuating and declining for two consecutive months, and the market had continued to decline this month. The raw material market had significantly declined, with poor cost support and sufficient supply of potassium nitrate. Prices had continued to follow the decline in costs. According to statistics from SunSirs, mainstream domestic potassium nitrate manufacturers had recently quoted 4,900-5,000 RMB/ton (for reference only), and the prices varied depending on the procurement situation.

According to the Commodity Analysis System of SunSirs, the overall trend of potassium chloride market in January was downward. The downstream market demand was sluggish, and the pressure on potassium chloride to sell had increased. This week, the domestic market price of imported potassium chloride had dropped significantly. According to the Commodity Analysis System of SunSirs, the price of potassium chloride had dropped from 3,080 RMB/ton at the beginning of the month to 2,800 RMB/ton over the weekend, a decrease of 8.91%. The prices of potassium chloride in Saltlake and Zangge were temporarily stable, but new transactions were limited. The downstream market for potassium chloride continued to decline, downstream demand was weakened and mainly purchased on demand. Recently, international potassium fertilizer had also shown a weak trend. SunSirs' potassium chloride analyst believes that domestic potassium chloride import prices may slightly decline in the short term.

Market outlook

As of January 29th, the domestic potassium chloride market had slightly improved, and the potassium nitrate market was at a low level. Downstream were stocking before holiday. It is expected that the price of potassium nitrate will mainly rebound from the bottom in the short term. The long-term market still needs to wait and see.

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