Price: 2,950 RMB/ton

Analysis review

On June 3rd, the liquid ammonia market in Shandong region fell. According to the Commodity Market Analysis System of SunSirs, the daily decline in the main production area of Shandong was 4.84%. 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 low urea prices of manufacturers, the amount of ammonia converted had increased, and the increase in ammonia volume had dragged down the price of ammonia. On June 3rd, some mainstream large factories in Shandong had generally lowered their prices by as much as 200-300 RMB/ton. Dealers tended to lower their shipments. Moreover, downstream procurement enthusiasm was not high, agricultural demand was gradually entering the off-season, industrial demand remained strong, and the demand side was generally bearish. As of June 3rd, the mainstream quotation in Shandong region was between 2,800-3,000 RMB/ton.

Market outlook

Recently, the demand for agricultural procurement hadslowed down and the supply was sufficient. 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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