SunSirs: The Ammonium Sulfate Market Was Weak and Declining in September

https://www.chemnet.com   Sep 29,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market was 926 RMB/ton on September 1st, and 883 RMB/ton on September 27th. The market price of ammonium sulfate had dropped by 4.65% this month.

Analysis review

The market price of ammonium sulfate weakened and declined in September. In the first half of September, the market price of ammonium sulfate first fell and then rose. The operating rate of coking enterprises remained stable, while the operating rate of internal level enterprises had decreased. Downstream demand had weakened, inquiries had decreased, and there was a resistance to high prices. The export market did not meet expectations, coupled with the decline in urea prices, which had a negative impact on ammonium sulfate. In the second half of September, the market price of ammonium sulfate weakened and fell. Before the holiday, downstream stocking enthusiasm was not high, and market inquiries decreased, resulting in a wait-and-see attitude. The export sector was mainly supported by essential needs, and there was temporarily no significant improvement in the market. As of September 27th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 860 RMB/ton. CPL grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 860-910 RMB/ton.

According to the weekly K-bar chart from July 1, 2024 to September 16, 2024, it can be seen that the domestic ammonium sulfate cycle was mixed with ups and downs. Ammonium sulfate experienced a significant decline in September, with the largest drop occurring in the week of September 2nd at 0.55%.

Market outlook

An ammonium sulfate analyst from SunSirs believes that the market demand for ammonium sulfate had been poor recently, with downstream purchasing by suppressing the price and limited market transactions, with mostly low-priced transactions. There was temporarily no positive news before the holiday, and it is expected that the domestic ammonium sulfate market price will continue to weaken and decline in the short term.

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