Price trend

According to the commodity market analysis system of SunSirs, at the beginning of the month, Shanxi's industrial grade first-class potassium nitrate was quoted at 5,062.50 RMB/ton, and at the end of the month, Shanxi's industrial grade first-class potassium nitrate was quoted at 4,962.50 RMB/ton, a decrease of 1.96%. The price had dropped by 9.77% year-on-year.

Analysis review

In April, the domestic potassium nitrate market fluctuated and fell. From the above chart, it can be seen that the potassium nitrate market had been fluctuating and falling for three consecutive months, with a slight decline this month. The raw material market was fluctuating upwards, with good cost support, but the potassium nitrate market had weak transactions, downstream factories had weak procurement, and the price of potassium nitrate had slightly decreased. According to statistics from SunSirs, mainstream domestic potassium nitrate manufacturers had recently quoted 4,800-5,000 RMB/ton (for reference only), and the prices varied depending on the procurement situation.

According to the Commodity Analysis System of SunSirs, the overall trend of potassium chloride market in April was upward. 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 basically balanced between supply and demand, and the price remained rigid and strong. 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

As of April 26th, the domestic market price of potassium chloride continued to rise slightly, with highly concentrated supply and good cost support. It is expected that the price of potassium nitrate will mainly rebound from the bottom in the short term, and the long-term market still needs to wait and see.

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