Price trend

This week (3.24-28), the liquid ammonia market in Shandong region showed weak performance, with prices reversing last week's upward trend and turnover declining. According to the Commodity Market Analysis System of SunSirs, the main production area of Shandong experienced a weekly decline of 5.43%.

Analysis review

The main reason is that the supply has shifted from tight to loose, and the supply pressure has increased. The early maintenance equipment has gradually resumed, and the operating rate of manufacturers has increased. Coupled with the poor performance of the urea market, some manufacturers have switched to ammonia, which has further exacerbated the contradiction of oversupply in the ammonia market.

From the beginning of the week to the weekend, some mainstream large factories in Shandong generally lowered their prices by 100-200 RMB/ton. Distributors mainly quoted low prices for shipments. And downstream procurement enthusiasm was not high, agricultural demand was still in the off-season, industrial demand remained rigid, and the overall demand side was bearish. As of March 28th, the mainstream quotation in Shandong region was 2,500-2,700 RMB/ton.

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