中国心连心化肥盘中涨近5% 国际化肥价格走高 2月钾肥合同价格上涨

Core Viewpoint - The stock of China Heartland Fertilizer (01866) has seen an increase of nearly 5% during trading, with a current rise of 3.67% to HKD 11.59, supported by a trading volume of HKD 26.1 million [1] Group 1: Fertilizer Market Trends - During the Spring Festival period, the average sales price of fertilizers in Hunan Province has increased, with a pre-festival average of CNY 2,627.71 per ton, up 2.7% but down 1.3% year-on-year [1] - The average sales price of nitrogen fertilizers reached CNY 2,191.1 per ton, increasing by 4.2% but down 10.1% year-on-year; the average price for compound fertilizers was CNY 3,064.32 per ton, up 1.7% and up 6% year-on-year [1] - The rise in fertilizer prices is primarily supported by the increase in international fertilizer prices and pre-festival stockpiling demand [1] Group 2: Potash Fertilizer Supply and Demand - China is the world's largest consumer of potash fertilizers, but the supply of potash resources is relatively insufficient [1] - As of the end of January 2026, domestic port inventory of potassium chloride was 2.4947 million tons, a decrease of 345,100 tons year-on-year, representing a decline of 12.15% [1] - Due to the increasing emphasis on food production safety, it is expected that domestic potash safety inventory will rise to over 4 million tons [1] Group 3: Pricing and Contracts - The market average price for potassium chloride at the end of January was CNY 3,295 per ton, with a month-on-month increase of 0.4% and a year-on-year increase of 27.52% [1] - In the international market, a cross-border railway contract was established between Chinese importers and the Russian Ural Potash Company, with the February contract price for potassium chloride set at USD 364 per ton (delivered to Manzhouli), an increase of USD 3 per ton from January [1]