SunSirs: The Spring Market for Compound Fertilizers Was Nearing Its End, with Prices Slightly Decreasing
April 16 2024 14:08:28 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 11th, the average market price of compound fertilizer was 3,066 RMB/ton, and on April 3rd, the average market price of compound fertilizer was 3,083 RMB/ton, a decrease of 0.54% from last week.
In terms of cost
The prices of composite fertilizer raw materials had fluctuated this week. The market quotation for potassium sulfate was weak, and the production of resource-based potassium sulfate manufacturers was normal. The potassium sulfate market was temporarily stable this week. The potassium chloride market rebounded this week, with domestic potassium fertilizer prices stabilizing and imported prices rising. The domestic market price of ammonium biphosphate has continued to decline slightly, with many units shut down, reduced production to keep prices. The price of DAP remained stable.
In terms of supply and demand
With the gradual development of spring farming in China, the spring market for compound fertilizers was nearing its end. There was still a demand for inventory replenishment in the Northeast region, while other regions were entering the clearance stage. The demand side support was limited, and the utilization rate of domestic production capacity was gradually declining. As April 12, the prices of compound fertilizers had mostly fallen, and there was pressure for enterprises to reduce inventory.
Market outlook
It is expected that the prices of compound fertilizers will slightly decrease in the later stage, and continue to pay attention to policy and changes in upstream market conditions.
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