SunSirs: The Potassium Carbonate Market Had Declined This week (May 13-17)
May 20 2024 15:48:07 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the average ex factory price of Shanxi light potassium carbonate, including tax, was 7,270.00 RMB/ton at the beginning of the week. On the weekend, the average ex factory price of Shanxi light potassium carbonate, including tax, was 7,250.00 RMB/ton, a decrease of 0.28%. The current price had decreased by 0.68% month on month, and had dropped by 13.90% year-on-year.
Analysis review
The price of potassium carbonate had fallen this week. From the above chart, it can be seen that the potassium carbonate market had been mainly volatile and consolidating in the past three months, with a slight decline this week. The domestic potassium chloride market prices had fluctuated and stabilized, and cost support was still acceptable. However, downstream demand continued to be weak, and potassium carbonate manufacturers were producing normally and shipping orders, causing the market to fluctuate and decline. According to statistics from SunSirs, the mainstream ex factory quotation range for industrial grade potassium carbonate in China this week was around 7,100-7,300 RMB/ton (for reference only), and the quotation 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 as limited. The 60% crystal market price was between 2,390-2,420 RMB/ton, with an upward trend and good cost support. It is expected that the potassium carbonate market will mainly rise in the short term. The long-term market still needs to be watched.
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