For the Quarter Ending September 2023
In the third quarter of 2023, Potassium Nitrate prices in North America exhibited a fluctuating pattern. Initially, there was a decline in prices during the first half of the quarter, but they stabilized midway and showed improvement in the latter part. The market experienced a significant drop in demand, particularly from agriculture retailers, leading to a noticeable decrease in the prices of key fertilizers in the US market. The inability of market participants to negotiate contributed to the overall downturn in prices. However, there was a positive development as agriculture retailers reported enhanced procurements, reflecting an upward trend in prices. Consequently, by the end of the third quarter, Potassium Nitrate prices were evaluated at USD 805 per metric ton on a Free on Board (FOB) basis.
In the initial weeks of Q3 2023, Potassium Nitrate prices in the Asia-Pacific (APAC) region began strongly but experienced a sharp decline by the end of the first half of the quarter. Nevertheless, prices rebounded in the later stages of the quarter due to improved demand fundamentals in September 2023. The first half of the quarter witnessed subdued demand, limited procurements, and no new transactions reported. The market had sufficient supply to meet the available demand during this period. However, a resurgence in demand from the agrochemical and fertilizer industry led to an upswing in prices towards the latter part of the quarter. Consequently, post the conclusion of Q3, Potassium Nitrate prices stood at USD 795 per metric ton on a Free on Board (FOB) basis.
Get Real Time Prices of Potassium Nitrate: https://www.chemanalyst.com/Pricing-data/potassium-nitrate-1551
In the third quarter, Potassium Nitrate prices in Europe faced a decline driven by reduced demand from downstream industries, particularly agrochemicals. The crucial role played by demand from the fertilizer industry was overshadowed by lackluster consumption in the agriculture sector, preventing prices from recovering throughout the quarter. Europe encountered challenging economic conditions with declining outputs, escalating inflation, and subsequent changes in interest rates. The Purchasing Managers’ Index (PMI) in the Eurozone consistently decreased, albeit at a slower pace towards the quarter’s end. Consequently, after the conclusion of September 2023, Potassium Nitrate prices in the Netherlands were evaluated at USD 860 per metric ton on a Free Delivered (FD) basis.
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