Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market was 883 RMB/ton on October 1st, and 856 RMB/ton on October 30th. This month, the market price of ammonium sulfate has dropped by 3.02%.
Analysis review
The market price of ammonium sulfate first rose and then fell in October. Returning from the holiday at the beginning of the month, due to the strong urea market and favorable ammonium sulfate market, coupled with stable market demand, the market price of ammonium sulfate has risen. The market price of ammonium sulfate continued to decline from mid October until the end of the month. The operating rate of ammonium sulfate enterprises has increased, leading to an increase in market supply. The downstream purchasing intention was not strong, the market inquiries have decreased, and there were many low-priced purchases, causing the market transaction center to continuously shift downwards. The demand for exports has weakened, and the market was running weakly. As of October 30th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 820 RMB/ton. CPL grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 830-880 RMB/ton.
According to the weekly K-bar chart from July 1, 2024 to September 16, 2024, it can be seen that the domestic ammonium sulfate cycle was fluctuating. Ammonium sulfate fell significantly in October, with the largest drop being 2.92% in the week of October 14th.
Market outlook
An ammonium sulfate analyst from SunSirs believes that the trading atmosphere in the ammonium sulfate market has been poor recently, downstream demand has weakened, and market transactions have been sluggish. As of October 30th, there was no positive news in the market, and it is expected that the domestic ammonium sulfate market price will continue to be weaker in the short term.
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