Industry News
The market price of potassium fertilizer may be consolidated at current levels
In 2023, the import volume of potassium chloride in China significantly increased, with a total import volume of 7.0201 million tons from January to August, and a total import volume of 7.9363 million tons in 2022, which has reached 88.5% of the total import volume in 2022. However, there are still four months in 2023 when new sources of goods will be imported. It is expected that the total import volume in 2023 will reach the level of 9.5-10 million tons or a new historical high in import volume.
From the import volume of various countries from January to August, Belarus still ranks first in import volume, with a total import volume of 2.5425 million tons, accounting for 36.22% of the total proportion; The second largest importer is Russia, with a total import volume of 1.3414 million tons, accounting for 19.11%; The third largest country in terms of import volume is Laos, with a total import volume of 1.1097 million tons, accounting for 15.81%. It is worth noting that Laos' import volume from January to August has exceeded that of the entire year 2022.
In terms of potassium sulfate, in August 2023, China's potassium sulfate export volume was 14400 tons, an increase of 55.56% month on month, with an average export price of 516.81 US dollars per ton. From January to August 2023, China's total potassium sulfate export volume was 78400 tons, an increase of 8.13% year-on-year.
Although the export volume of potassium sulfate significantly increased in August, it was mostly due to early export quotas, and the legal inspection policy continued to affect the domestic market. In addition, due to the tight supply of domestic potassium sulfate in the early stage, the quantity that can be exported is relatively limited.
Overall, with the continuous increase in domestic potassium fertilizer imports, the supply is stable, but it is mostly concentrated in the hands of large traders, and the supply of goods in bonded areas has not yet been fully cleared. Therefore, the market's release volume is not concentrated, and the release is mainly frequent.
The autumn market production has come to an end, and downstream factories are not actively purchasing subsequent raw materials. Therefore, from a demand perspective, potassium fertilizer has no favorable support, while the production of imported and domestic potassium is relatively sufficient. Therefore, a situation of oversupply is evident in the potassium fertilizer market. Recently, market prices have fluctuated, and some small and medium-sized traders have continued to sell goods in the early stage. However, with the support of temporary stability in large trade prices, market prices may stabilize at current levels for a period of time, waiting for the subsequent launch of the winter storage market.
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