SunSirs: The Domestic Ammonium Sulfate Market First Suppressed and Then Rebounded in November
November 28 2024 15:05:50 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market was 850 RMB/ton on November 1st, and 821 RMB/ton on November 27th. This month, the market price of ammonium sulfate has dropped by 3.33%.
Analysis review
This month, the market price of ammonium sulfate first fell and then rose. The operating rate of coking enterprises remained stable, with a slight increase in the operating rate at the domestic level. In early November, the price of ammonium sulfate in the domestic market weakened and declined, and the focus of transactions shifted downwards. Downstream inquiries have decreased, demand has weakened, and coupled with the poor performance of ammonium sulfate exports, ammonium sulfate continued to operate weakly. In mid to late November, the domestic price of ammonium sulfate slowly rose. The downstream demand has increased, and the transaction price of ammonium sulfate market has risen. However, the international market for ammonium sulfate has not improved yet and remains mainly weak. As of November 27th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 760 RMB/ton. CPL grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 820-860 RMB/ton.
According to the weekly K-bar chart from September 2, 2024 to November 18, 2024, it can be seen that the domestic ammonium sulfate cycle was fluctuating. Ammonium sulfate fell significantly in November, with the largest drop being 5.69% in the week of November 4th.
Market outlook
An ammonium sulfate analyst from SunSirs believes that the trading atmosphere in the ammonium sulfate market has been improving recently, with downstream urgent purchases resulting in a slight increase in domestic prices. However, the export market remained weak. It is expected that the short-term domestic ammonium sulfate market will mainly experience a narrow adjustment in price.
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