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SunSirs: Supported by Demand, the Price of Ammonium Chloride Rose Slightly in January

February 02 2023 10:42:06     SunSirs (John)

Price trend

In January, the market price of ammonium chloride rose slightly. Before the Spring Festival, the market demand was weak due to the impact of the approaching holiday, and the business offer was slightly lower; After the festival, the downstream compound fertilizer and extruded granular ammonium chloride enterprises began to resume construction, and the ammonium chloride manufacturers had sufficient orders to be delivered. Although the price of raw material liquid ammonia fell sharply in January, the price of urea continued to rise slightly at a high level, driving the bullish atmosphere of ammonium chloride. According to the monitoring of SunSirs, as of January 31, the price of dry ammonium chloride was 1,170 RMB/ton, up 2.18% from the price of 1,145 RMB/ton at the beginning of the month. It is understood that the ex-factory price of ammonium chloride enterprises was strong after the Spring Festival, and the ex-factory price of dry ammonium chloride in East China was between 1,130 and 1,200 RMB/ton; The ex-factory price of dry ammonium in central China was between 1,180 and 1,260 RMB/ton.

Analysis review

Supply and demand side: In January, the operating rate of compound fertilizer was around 40%. After the holiday, the operation of compound fertilizer and extruded granular ammonium chloride enterprises resumed gradually, and inquiries increased slightly. In January, more than 80% of the combined caustic soda units were started, and ammonium chloride enterprises had many orders to be delivered, and the market price of ammonium chloride was gradually rising.

In January, the price of raw material liquid ammonia dropped sharply, and the cost of ammonium chloride fell. According to the monitoring of SunSirs, as of January 31, the price of domestic liquid ammonia was 4,233 RMB/ton, down 9.42% from the price of 4,673 RMB/ton at the beginning of the month. In January, the inventory of liquid ammonia enterprises accumulated, and the market price fell sharply.

In January, the price of urea rose slightly from a high level, which supported ammonium chloride. According to the monitoring of SunSirs, as of January 31, the domestic urea price was 2,785 RMB/ton, up 3.22% from the price of 2,698 RMB/ton at the beginning of the month.

Market outlook

Ammonium chloride analysts from SunSirs believe that the demand side is expected to be better, and the price of urea is slightly higher from a high level. Overall, it is expected that the ammonium chloride market will continue to rise slightly in the later period.

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