SunSirs: The Market Price of Ammonium Sulfate Fluctuated and Rose in April

https://www.chemnet.com   May 06,2024 SunSirs

　　According to the Commodity Market Analysis System of SunSirs, the average market price of ammonium sulfate in China was 756 RMB/ton on April 1st, and 813 RMB/ton on April 29th. The price of ammonium sulfate had increased by 7.49% this month.

　　Analysis review

　　The market price of ammonium sulfate fluctuated and increased this month. In the first half of April, the domestic market price of ammonium sulfate continued to rise. Due to the significant drop in ammonium sulfate prices in March, the market's bottoming out mentality had increased. The demand for downstream rare earths had increased, and the trading atmosphere had improved, leading to an increase in the bidding price of ammonium sulfate. The upward trend of urea prices was favorable for the domestic nitrogen fertilizer market. In the second half of April, the domestic ammonium sulfate market price slightly declined and then rose again. Downstream compound fertilizer enterprises mainly focused on procurement in demand, with a flat trading atmosphere and a decrease in ammonium sulfate prices. As May Day approached, downstream restocking demand increased, new orders in the market increased, and the price of ammonium sulfate stopped falling and rose. As of April 29th, the mainstream ex factory quotation for coking grade ammonium sulfate in Hebei region was around 800 RMB/ton. The mainstream ex factory quotation for ammonium sulfate in Shandong region was around 800-830 RMB/ton.

　　According to the weekly K-bar chart from February 12, 2024 to April 22, 2024, it can be seen that the domestic ammonium sulfate cycle had seen mixed ups and downs. There was a significant increase in April, with the maximum increase being 2.95% in the week ending April 22nd.

　　Market outlook

　　According to analysts from SunSirs, the ammonium sulfate market had been operating at a relatively strong price recently. The demand for pre holiday stocking was nearing its end, the atmosphere for inquiries was weakening, and new orders in the market were limited. It is expected that the domestic ammonium sulfate market will maintain stable consolidation in the short term.

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