Price: 2,883 RMB/ton

Analysis:

On April 22nd, the liquid ammonia market in Shandong region fell, continuing the downward trend of last week. According to the Commodity Market Analysis System of SunSirs, the daily decline in the main production area of Shandong was 3.35%. The main reason was that the maintenance equipment had resumed work one after another, and the supply side had shown a loose performance. Coupled with the downstream urea partially converting to liquid ammonia, the ammonia volume had surged in the short term. On April 22nd, mainstream large factories in Shandong had generally lowered their prices by more than 100 RMB. Dealers tended to lower their shipments. And downstream procurement enthusiasm was not high, the peak season for agricultural demand procurement was approaching, industrial demand remained in high demand, and the sluggish demand side had suppressed the price of liquid ammonia. As of April 22nd, the mainstream quotation in Shandong region was between 2,750-2,950 RMB/ton.

Market outlook

The seasonal peak season is gradually coming to an end, and the recent demand for agricultural procurement has slowed down, with sufficient supply. It is expected that liquid ammonia will remain weak in the near future, and it is not ruled out that prices may continue to decline.

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