SunSirs: Trading Was Quiet, and the Price of Ammonium Sulfate had fallen (October 14-21)

https://www.chemnet.com   Oct 22,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market on October 21 was 883 RMB/ton, which Ws 3.28% lower than the average price of 913 RMB/ton on October 14.

Analysis review

The price of ammonium sulfate in the domestic market had fallen this week. This week, the operating rate of ammonium sulfate enterprises had increased, and the market supply had increased. The downstream purchasing intention was not strong, the market inquiries had decreased, and there were many low-priced purchases, causing the market transaction center to continuously shift downwards. The demand for exports had weakened, and the market was running weakly. As of October 21st, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 800 RMB/ton. Domestic CPL grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 850-900 RMB/ton.

Market outlook

An ammonium sulfate analyst from SunSirs believes that the ammonium sulfate market has been weak and declining recently, with the overall trend being mainly downward. As of October 21st, the market trading atmosphere is quiet, coupled with poor export market conditions. It is expected that the domestic ammonium sulfate market price will continue to operate weakly in the short term.

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