SunSirs: Domestic Ammonium Sulfate Prices Had Slightly Increased (November 15-21)
November 22 2024 09:33:34 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 21 was 815 RMB/ton, an increase of 1.24% compared to the average price of 805 RMB/ton on November 15.
Analysis review
The price of ammonium sulfate in the domestic market had risen this week. The operating rate of coking enterprises remained stable, with a slight increase in the operating rate at the domestic level. This week, downstream demand had increased, and the transaction price of ammonium sulfate market had risen. The international market for ammonium sulfate had not improved yet and remained mainly weak. As of November 21st, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 770 RMB/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 820-850 RMB/ton.
Market outlook
An ammonium sulfate analyst from SunSirs believes that the ammonium sulfate market had stabilized after a slight increase in recent days. Downstream demand for replenishment remained cautious towards high priced ammonium sulfate. As of November 21st, the export market situation was not good, and the domestic ammonium sulfate had insufficient upward momentum. It is expected that in the short term, the domestic ammonium sulfate market will mainly experience a narrow range of price consolidation and operation.
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