According to the Commodity Analysis System of SunSirs, the domestic market for imported potassium chloride had slightly increased this week. The price of potassium chloride had increased from 3,025.00 RMB/ton at the beginning of the week to 3,062.50 RMB/ton at the end of the week, an increase of 1.24%.
On November 14th, the potassium chloride (imported) commodity index was 97.22 points, unchanged from the previous day, a decrease of 44.32% from the cycle's highest point of 174.60 points (2022-06-21), and an increase of 66.90% from the lowest point of 58.25 points on August 6th, 2020. (Note: The cycle refers to the period from March 1st, 2012 to present)
Analysis review
This week, the prices of mainstream domestic potassium chloride distributors had slightly increased: Anhui Badou’s Weekend Potassium Chloride distribution price was quoted at 2,950 RMB/ton, an increase of 50 RMB/ton compared to the beginning of the week. Zibo Dehe's weekend potassium chloride distribution quotation was 3100 RMB/ton, which was temporarily stable compared to the beginning of the week. Shandong Xinkaisheng's weekend potassium chloride distribution quotation was 3,000 RMB/ton, which was temporarily stable compared to the beginning of the week. Zibo Zhongsheng’s weekend potassium chloride distribution price was quoted at 3,200 RMB/ton, an increase of 100 RMB/ton compared to the beginning of the week. The arrival price of 60% white potassium in Qinghai was around 2,800-2,850 RMB/ton, and the self delivered price of 62% white potassium in ports was around 2,900-2,950 RMB/ton. The self delivered price of 60% bright red granules at the port was around 3,050-3,150 RMB/ton. Border trade accounted for 62% of Russian white potassium at around 2,800-2,900 RMB/ton.
From the downstream market situation of potassium chloride, the price of potassium carbonate in the market had slightly increased this week, rising from 7,480.00 RMB/ton at the beginning of the week to 7,500.00 RMB/ton at the weekend, an increase of 0.27%, and a year-on-year decrease of 18.14% over the weekend. The market price of potassium nitrate slightly increased this week, rising from 5,400.00 RMB/ton at the beginning of the week to 5,425.00 RMB/ton at the weekend, an increase of 0.46%. The weekend price was decreased by 7.66% year-on-year. Overall, the downstream market for potassium chloride had slightly increased, and downstream customers' demand for potassium chloride has increased.
Market outlook
In mid to late November, the overall trend of potassium chloride market may fluctuate and rise in a narrow range, with consolidation being the main trend. The prices of potassium chloride in Saltlakes and Zangge were temporarily stable. The downstream market of potassium chloride had slightly increased, and downstream demand had increased, with procurement mainly being on demand. The circulation of potassium chloride was tight, and the supply of goods at the port had slightly increased. Analysts from SunSirs believe that domestic imported potassium chloride prices may slightly increase in the short term.
