SunSirs: Liquid Ammonia Prices Continued to Decline This Week
April 07 2023 09:54:59 SunSirs (John)
Price trend
As the weekend approaches, the domestic liquid ammonia market continued its decline at the beginning of the week. According to monitoring by SunSirs, on April 6th, the daily decline in the main production area of Shandong was 2.20%. The cumulative decline this week was 7.5%.
Analysis review
A large factory in the Shandong region had cumulatively lowered prices by up to 300 RMB/ton this week. On the one hand, supply had increased, manufacturers' shipments had slowed down, and inventory pressure had increased. In addition, imported goods impacted the domestic market . On the other hand, the downstream product urea lacked support and maintained a weaker trend. Subsequently, the contradiction between supply and demand further intensified. As of the 6th, the mainstream quotation in Shandong region was between 3,600-3,750 RMB/ton.
Market outlook
The downstream urea market continues to be weak, while ammonia companies are still in the process of accumulating inventory. It is expected that the supply-demand contradiction will be difficult to alleviate in the near future. The price of liquid ammonia will still hover at a low level.
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