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SunSirs: Transactions Were Weak and Potassium Sulfate Prices Declined

March 11 2024 11:48:44     SunSirs (John)

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the price of potassium sulfate with a 50% content at the beginning of this week was 3,376 RMB/ton, and the price of potassium sulfate with a 50% content at the end of this week was 3,360 RMB/ton, a decrease of 0.49%.

Analysis review

The overall domestic potassium sulfate market was weak, and the price changes of Mannheim potassium sulfate mainly occured in the Northeast region. In the absence of active spring plowing in the market, the price of potassium sulfate has slightly decreased. As of March 8th, the operating rate of Mannheim potassium sulfate manufacturers nationwide remained at a high level of over 70%, with sufficient supply. The mainstream ex factory price of Mannheim 52% powder was between 3,100-3,500 RMB/ton, and the price in the southern market was significantly higher than that in the northern market. However, new orders were mostly negotiated.

As of March 8th, the operating rate of major downstream compound fertilizer factories was still gradually recovering, and the production of finished products from manufacturers haf been slightly slow recently, not reaching the normal level of spring sales. In the context of continuous instability in potassium fertilizer prices, downstream factories were not actively purchasing raw materials and tended to prioritize on demand.

Market outlook

The domestic potassium fertilizer market was weak, with no positive support at the moment. It is expected that the domestic potassium fertilizer market prices will mainly fluctuate and show a weak trend in the short term.

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