SunSirs: The Potassium Nitrate Market Fell This Week (February 18-23)

Price trend  

According to the commodity market analysis system of SunSirs, the first grade industrial potassium nitrate in Shanxi was quoted at 5,175 RMB/ton at the beginning of the week, and 5,150 RMB/ton at the end of the week, a decrease of 0.48% and a month on month decrease of 1.90%. The price had dropped by 13.59% year-on-year.

Analysis review

This week, the domestic potassium nitrate market had declined, and it can be seen from the above chart that the recent potassium nitrate market had mainly experienced slight fluctuations, and the market had continued to decline slightly this week. The supply of potassium chloride continued to increase, with poor cost support. After the Spring Festival, downstream demand generally maintained essential procurement, and the price of potassium nitrate continued to decline. 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 domestic market for potassium chloride had declined. As of February 23rd, the temporary arrival price of 60% white potassium chloride in Qinghai was still maintained at 2,860 RMB/ton, and the factory price of 57% powder potassium chloride from small factories in Qinghai was 1,900 RMB/ton. The market was temporarily waiting for the clear settlement price of Qinghai Saltlake Co., Ltd. at the end of February. 62% of the port's white potassium chloride had a self delivery price of 2,500 RMB/ton, and 60% of the port's large red particles potassium chloride had a self delivery price of 2,750 RMB/ton. Domestic potassium chloride prices may experience a slight fluctuation and decline, with consolidation being the main trend.

Market outlook

Recently, the domestic supply of potassium chloride had continued to increase, and the market was operating at a low level with poor cost support. It is expected that the potassium nitrate market will mainly experience a slight decline in the short term. The long-term market still needs to be watched.

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