SunSirs: The Potassium Nitrate Market Fell This Week (April 15-19)

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 4,975.00 RMB/ton, and over the weekend, Shanxi's industrial grade first-class potassium nitrate was quoted at 4,962.50 RMB/ton, a decrease of 0.25%, a month on month decrease of 2.46%, and the price had dropped by 10.59% 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 continued to decline slightly this week. Downstream demand continued to be weak, although the raw material market was rising, it cannot drive the potassium nitrate market. The potassium nitrate market was cold and quiet, and the price of potassium nitrate was falling. 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.

The domestic potassium chloride market had generally seen an increase of 50-100 RMB/ton this week. In terms of imports, the price of 60% potassium chloride was mostly between 2,200-2,500 RMB/ton. Due to the low arrival volume in April, the domestic market performance was tight, and the price was trending upwards. However, downstream factories generally had a resistance to price increases, and the peak season for spring plowing procurement was gradually coming to an end. Most enterprises had already replenished their inventory in the early stage, and the demand for compound fertilizer manufacturers was decreasing.

Market outlook

Recently, the domestic potassium chloride market had been at a high level, with strong cost support. It is expected that the potassium nitrate market will mainly experience a slight increase in the short term, and the long-term market still needs to be watched.

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