SunSirs: The Potassium Nitrate Market Fell This Week (April 1-7)

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 5,112.50 RMB/ton, and over the weekend, Shanxi's industrial grade first-class potassium nitrate was quoted at 5,087.50 RMB/ton, a decrease of 0.49%, a month on month decrease of 1.69%, and the price had dropped by 14.35% year-on-year.

Analysis review

This week, the domestic potassium nitrate market declined, and it can be seen from the above chart that the recent potassium nitrate market mainly experienced slight fluctuations, and the market had continued to decline slightly this week. The domestic market price of potassium chloride was at a relatively high level, and cost support was still acceptable. However, the transaction volume in the potassium nitrate market was sluggish, and traders mainly shipped at low prices, resulting in a continuous decline in the price of potassium nitrate. According to statistics from SunSirs, the mainstream domestic manufacturers of potassium nitrate quoted 4,700-4,800 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. The domestic potassium chloride market was in a slow downward trend, with traders mainly shipping at low prices, and port shipments were still acceptable. As of April 7th, the price of 62% white potassium chloride was mostly around 2,300 RMB/ton. In mid to early April, the trend of potassium chloride market may fluctuate and fall slightly, 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 domestic potassium chloride market had been at a high and firm price, but the market was in a slightly stagnant trading state, with poor sales of potassium nitrate. It is expected that the potassium nitrate market will mainly experience a slight decline in the short term, and the long-term market still needs to wait and see.

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