SunSirs: The potassium nitrate market was consolidating this week (January 29-February 4)
February 06 2024 09:42:39 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, this week Shanxi's industrial grade first-class potassium nitrate was quoted at 5,175 RMB/ton, a month on month decrease of 5.48%, and the price had dropped by 11.91% year-on-year.
Analysis review
This week, the domestic potassium nitrate market had been volatile and consolidating. From the above chart, it can be seen that after a continuous slight increase in the potassium nitrate market, the market had remained basically stable this week. Domestic potassium manufacturers had sufficient supply, border trade sources had slightly increased, and prices had fallen. The potassium nitrate market was trading coldly, with average transactions and market consolidation. According to statistics from SunSirs, the mainstream domestic manufacturers of potassium nitrate quoted 4,900-5,000 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 fluctuated. In mid to early February, the trend of potassium chloride market experienced a slight fluctuation and decline, with consolidation being the main trend. The prices of potassium chloride in Saltlake and Zangge were temporarily stable, and the market situation was average. Downstream agricultural demand was average, industrial demand weakened, and the price of potassium chloride may fluctuate and fall in the future.
Market outlook
Recently, the market for potassium chloride in China had been consolidating, with downstream maintained purchases on demand. It is expected that the price of potassium nitrate will mainly decline in the short term, while the long-term market still needs to wait and see.
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