SunSirs: Trading Weakened, and Ammonium Sulfate Market Fell (June 17-24)

https://www.chemnet.com   Jun 25,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of domestic ammonium sulfate market on June 24th was 983 RMB/ton, which had decreased by 5.75% compared to the average market price of domestic ammonium sulfate at 1,043 RMB/ton on June 17th. Analysis review

This week, the domestic price of ammonium sulfate had fallen back. The enterprise had stable production and sufficient market supply. The international market transaction price was low, which was bearish for the domestic ammonium sulfate market. As of June 24th, downstream procurement enthusiasm had weakened, and the mentality of buying up instead of buying down had increased, resulting in insufficient transaction orders in the ammonium sulfate market. As of June 24th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 980 RMB/ton. The mainstream ex factory quotation for CPL guade ammonium sulfate in Shandong region was around 950-1,020 RMB/ton.

Market outlook

According to Ammonium Sulfate analysts from SunSirs, the market trend of ammonium sulfate had been declining recently, with prices continuing to decline. As of June 24th, there was no positive news in the market, and downstream procurement was cautious. It is expected that the domestic ammonium sulfate price will be weaker in the short term.

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