SunSirs: The Market Price of Ammonium Sulfate Was Weak and Declining (November 1-7)
November 08 2024 10:27:42 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market on November 7th was 808 RMB/ton, a decrease of 4.90% from the average price of 850 RMB/ton on November 1st.
Analysis review
This week, the price of ammonium sulfate in the domestic market had weakened and declined, and the focus of transactions had shifted downwards. The operating rate of coking enterprises remained stable, with a slight increase in the operating rate at the domestic level. This week, there had been a decrease in downstream inquiries and a weakening in demand, with many adopting a cautious attitude. As of November 7th, the export market of ammonium sulfate was not performing well and will continue to operate weakly in the short term. As of November 7th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 760 RMB/ton. CPL grade ammonium sulfate, the mainstream factory price in Shandong region was around 800-860 RMB/ton.
Market outlook
An ammonium sulfate analyst from SunSirs believes that the market for ammonium sulfate has been weak recently, resulting in a decline in bidding prices. As of November 7th, there was no good news in the market, and downstream purchases were mainly seeking low prices, resulting in sluggish market transactions. It is expected that the domestic ammonium sulfate market price will continue to weaken and decline in the short term.
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