Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of ammonium sulfate in China was 813 RMB/ton on May 1st, and 848 RMB/ton on May 28th. The price of ammonium sulfate had increased by 4.30% this month.

Analysis review

The market price of ammonium sulfate had steadily increased this month. After the May Day holiday, the demand for downstream compound fertilizer market increased, and the enthusiasm for raw material procurement increased. The trading atmosphere in the ammonium sulfate market was good, and prices continued to rise. This month, urea prices had shown a positive trend, indirectly benefiting the ammonium sulfate market. The export market had not improved yet, and the focus of transactions was relatively weak. As of May 28th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 820 RMB/ton. The mainstream ex factory quotation for CPL grade ammonium sulfate in Shandong region was around 850-880 RMB/ton.

According to the weekly K-bar chart from March 4, 2024 to May 20, 2024, it can be seen that the domestic ammonium sulfate cycle had seen mixed ups and downs. Ammonium sulfate rose significantly in May, with the largest increase of 1.61% in the week of May 20th.

Market outlook

According to Ammonium Sulfate analysts from SunSirs, the demand off downstream compound fertilizers was gradually weakening, and new orders in the market were limited. However, with the support of essential demand, the price of ammonium sulfate remained strong, and international demand needed to be released. It is expected that the domestic ammonium sulfate market will mainly experience consolidation at high levels in the short term.

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