Potassium Chloride Prices Trend in the second quarter of 2023 | ChemAnalyst
For the Quarter Ending June 2023 North America: Potassium Chloride witnessed a bearish trend throughout the second quarter of 2023 in North America. In Canada, this decline was primarily attributed to weak market sentiments in the international arena, compounded by an abundant supply of potassium chloride. Discounts offered by Russia and Belarus to Asian, African, and South American countries significantly impacted global market prices. This price decrease was partly a response to reduced demand from farmers, who curtailed fertilizer applications due to concerns related to affordability and availability. Cautious buying behavior also prevailed due to sluggish demand from domestic downstream industries. Despite this, there were ample supplies to meet the needs of downstream sectors such as pharmaceuticals, oil, and gas, although demand from downstream fertilizer producers decreased. Canada's Manufacturing PMI dropped to 48.8 in June 2023, marking the third consecutive month of cont...