SunSirs: The Number of Inquiries Reduced, and the Price of Ammonium Sulfate Had Dropped (July 15-22)

https://www.chemnet.com   Jul 23,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market on July 22 was 910 RBM/ton, which was 3.19% lower than the average price of 9,40 RBM/ton on July 15.

Analysis review

This week, the domestic ammonium sulfate market prices had mainly declined. This week, there had been frequent rainfall in many areas, resulting in poor transportation. The operating rate of coking enterprises remained stable, while the operating rate of domestic enterprises had increased. As of July 22nd, the market supply was relatively sufficient, and the enthusiasm for downstream procurement had weakened. The main focus was on price cutting procurement, and the export market had not improved yet. As of July 22nd, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 870 RBM/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 890-920 RBM/ton.

Market outlook

An ammonium sulfate analyst from SunSirs believes that the ammonium sulfate market has been weak in recent days. As of July 22nd, there was a decrease in market inquiries, weak domestic and international demand, and downstream was mainly cautious on a basis of watch-and-wait. It is expected that the domestic price of ammonium sulfate will be consolidate to be weaker in the short term.

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