Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market was 921 RMB/ton on August 1st, and 913 RMB/ton on August 28th. The market price of ammonium sulfate had dropped by 0.90% this month.

Analysis review

The market price of ammonium sulfate first fell and then rose in August. In the first half of August, the market price of ammonium sulfate weakened and declined. The operating rate of coking enterprises was relatively low, while the operating rate of CPL grade enterprises was relatively high. The enthusiasm for market procurement had weakened, and on-site trading was weak. The granule factory had a large inventory and the shipping market was not good. The export market for ammonium sulfate had not improved, and the confidence of exporters had been dampened. In the second half of August, the market price of ammonium sulfate fluctuated and rose. The operating rate of coking enterprises was relatively low, and some enterprises had limited production. The operating rate of internal level enterprises had also decreased. Downstream inquiries had increased, the focus of ammonium sulfate transactions had shifted upward, and market prices had risen. As of August 28th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 890 RMB/ton. CPL grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 900-930 RMB/ton.

According to the weekly K-bar chart from June 3, 2024 to August 19, 2024, it can be seen that the domestic ammonium sulfate cycle was fluctuating. Ammonium sulfate experienced a significant decline in August, with the largest drop occurring in the week of August 12th at -1.82%.

Market outlook

An ammonium sulfate analyst from SunSirs believes that downstream demand was still acceptable in recent days, market inquiries had increased, and on-site trading was good. As of August 28th, export expectations were positive, and the price of ammonium sulfate had slightly increased. It is expected that in the short term, the domestic ammonium sulfate market prices will mainly be stable with a moderate upward trend.

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