SunSirs: The Potassium Nitrate Market fluctuated slightly this week (March 18-22)

Price trend

According to the commodity market analysis system of SunSirs, at the beginning of the week, Shanxi's industrial grade first-class potassium nitrate was quoted at 5,087.50 RMB/ton, and over the weekend, Shanxi's industrial grade first-class potassium nitrate was quoted at 5,062.50 RMB/ton, a decrease of 0.49%, a month on month decrease of 1.69%, and the price had dropped by 13.61% 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. Recently, the price of potassium chloride in the market had slowly declined, with 60% of the crystal price ranging from 2,100 to 2,390 RMB/ton. Cost support was weak, and potassium nitrate transactions were average, with slight fluctuations in the market. According to statistics from SunSirs, the mainstream domestic manufacturers of potassium nitrate quoted 4,800-5,000 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, with 62% of the port's white chloride potassium self increasing prices at around 2,300 RMB/ton. The self delivered price of 60% bright red particles potassium chloride at the port was around 2,400-25,00 RMB/ton. Border trade accounted for 62% of Russian white potassium chloride at around 2,200 RMB/ton. SunSirs' potassium chloride analyst believes that domestic potassium chloride import prices may slightly decline in the short term.

Market outlook

In recent times, the domestic potassium fertilizer market had shown a weak trend, with significant pressure on traders to source and sell goods, resulting in slightly slower shipments. It is expected that the price of potassium nitrate will mainly decline in the short term, and the long-term market still needs to be wait-and-see.

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