SunSirs: The Potassium nitrate Market in Shanxi Declined in February

Price trend

According to the commodity market analysis system of RMB/ton, at the beginning of the month, the price of Shanxi industrial grade first-class potassium nitrate was quoted at 5,175.00 RMB/ton, and at the end of the month, the price of Shanxi industrial grade first-class potassium nitrate was quoted at 5,112.50 RMB/ton, a decrease of 1.21%. The price had dropped by 14.22% year-on-year.

Analysis review

In February, the domestic potassium nitrate market declined. As can be seen from the above chart, the potassium nitrate market had been fluctuating and declining for three consecutive months, and the market had continued to decline this month. The raw material market was fluctuating downward, with poor cost support. After the Spring Festival holiday, there was sufficient supply of potassium nitrate, and transactions were light. Prices continued to decline with the decline in costs. According to statistics from SunSirs, mainstream domestic potassium nitrate manufacturers had recently quoted 4,800-5,000 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 February was downward. The prices of Saltlake and Zangge potassium chloride were temporarily stable, but new transactions were limited. The downstream market for potassium chloride continued to decline, with weakened downstream demand and a focus on essential procurement. Recently, international potassium fertilizer had also shown a weak trend. SunSirs's potassium chloride analyst believes that domestic potassium chloride imported prices may slightly decline in the short term.

Market outlook

As of February 28th, there was sufficient supply of imported potassium chloride, and the price of 62% white potassium chloride was mostly between 2,430-2,450 RMB/ton, with poor cost support. It is expected that the price of potassium nitrate will mainly rebound from the bottom in the short term, and the long-term market still needs to wait and see.

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