SunSirs: The Potassium Nitrate Market Fluctuated Slightly This Week (May 13-17)

https://www.chemnet.com   May 21,2024 SunSirs

According to the commodity market analysis system of SunSirs, at the beginning of the week, Shanxi industrial grade first-class potassium nitrate was quoted at 4,850.00 RMB/ton, and over the weekend, Shanxi industrial grade first-class potassium nitrate was quoted at 4,975.00 RMB/ton, an increase of 0.51% and a month on month increase of 0.25%. The current price had dropped by 6.13% year-on-year.

Analysis review

This week, the domestic potassium nitrate market had been fluctuating and consolidating, and it can be seen from the above chart that there had been a slight increase in the recent potassium nitrate market. Recently, the price of potassium chloride in the market had been at a high level, with 60% of the crystal price at 2,390-2,420 RMB/ton. Cost support was relatively strong, and potassium nitrate manufacturers were shipping normally, with slight fluctuations in the market. 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 been consolidating. The domestic potassium chloride market continued its previous consolidation trend, with little fluctuation. 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 from April to May, the domestic market had shown a basic balance between supply and demand, and there had been no surplus situation in the market. The price still remains rigid and strong. However, downstream factories generally had a resistance towards high prices, and the peak season for spring farming procurement is 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 shipment volume in China had been insufficient, and the supply of goods in various regions was limited. The market price of 60% crystals was between 2,390-2,20 RMB/ton, with an upward trend and good cost support. It is expected that the price of potassium carbonate will mainly increase in the short term, and the long-term market still needs to wait and see.

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