During the formation of ferric thiocyanate and potassium nitrate from ferric nitrate and potassium thiocyanate, the red color is due to the formation of
Fe(CNS)2+
Ferric thiocyanate is formed three stages. The steps are given below:
Fe3++CNS−⇋Fe(CNS)2+
Fe(CNS)2++CNS−⇋Fe(CNS)+2
Fe(CNS)+2+CNS−⇋Fe(CNS)3
Among these, Fe(CNS)2+ is responsible for deep red colour.