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SunSirs: On January 22nd, the Market Price of Liquid Ammonia in Shandong Province Increased
January 24 2024 15:02:20SunSirs(John)

Price trend

On January 22nd, the liquid ammonia market in Shandong region rose. According to the commodity market analysis system of SunSirs, the daily increase in the main production area of Shandong was 2.0%.

Analysis review

The main reason was the decrease in ammonia emissions from large factories in the early stage, as well as the maintenance of some equipment failures, which provided support for the supply side. On Monday, large factories in Shandong and surrounding Hebei generally raised prices by 50-100 RMB/ton. The dealer's offer followed suit. However, downstream procurement enthusiasm was not high, urea remained weak in operation, and the sluggish demand side had limited the upward trend of liquid ammonia. As of January 22nd, the mainstream quotation in Shandong region was between 3,200-3,350 RMB/ton.

Market outlook

It is expected that the equipment of northern liquid ammonia enterprises may resume work in the short term, and the tight supply pattern may improve in the later stage. Coupled with the lack of improvement in downstream demand, it is expected that the upward trend of liquid ammonia in the later stage will be difficult to maintain, and the possibility of price reversal cannot be ruled out.

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