SunSirs: Domestic Ammonium Sulfate Prices Were Stable with a Rise (February 17-24)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of ammonium sulfate in the domestic market on February 24th was 963 RMB/ton, an increase of 2.66% compared to the average price of 938 RMB/ton on February 17th.

Analysis review

This week, the domestic ammonium sulfate market prices have shown a strong upward trend. The operating rate of coking enterprises remained stable, and the operating rate of their internal equipment was at a high level. Downstream procurement were based on demand, demand for urea was stable and market transaction atmosphere was strong. As the price of ammonium sulfate continued to rise, downstream procurement tended to be cautious, and distributors operated cautiously. As of February 24th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region was around 950 RMB/ton. CPL grade ammonium sulfate, the mainstream ex factory quotation in Shandong region was around 965-995 RMB/ton.

Market outlook

An ammonium sulfate analyst from SunSirs believes that the recent trend of ammonium sulfate market has stabilized after rising, and the overall trading atmosphere in the market was good. As of February 24th, market demand was good, and downstream demand for replenishment was urgent. As the price of ammonium sulfate continued to rise, the market's cautious attitude increased. It is expected that in the short term, the domestic ammonium sulfate market will be consolidated to be stronger.

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