SunSirs: On May 25, the Price of Domestic Liquid Ammonia Market Fell
May 26 2023 14:09:44 SunSirs (John)
Price trend
On May 25th, approaching the weekend, domestic liquid ammonia continued its decline this week and continued to decline. According to the Commodity Market Analysis System of SunSirs, the main production area of Shandong fell by 2.19% on a daily basis, with the trading center moving down the range of 200 to 300 RMB/ton compared to the beginning of the week
Analysis review
Liquid ammonia showed an overall downward trend this week. The supply in the main production area of Shandong increased, and the operating rate of enterprises was on the high side. Many ammonia enterprises had switched from urea to liquid ammonia, resulting in inventory backlog due to increased production. Coupled with the large number of imported goods arriving at the port last week, this had an impact on the liquid ammonia market in the region. Shandong large factories repeatedly lowered factory prices this week, with a cumulative range of around 300 RMB/ton. On the demand side, agricultural demand was in the off-season, and downstream procurement was slowing down. The dual pressure of supply and demand had led to a continuous decline in the price of liquid ammonia. As of the 25th, the mainstream quotation for liquid ammonia in Shandong region was between 2,700-3,000 RMB/ton.
Market outlook
Liquid ammonia analysts from SunSirs believe that in the short term, the supply and demand of ammonia in the market are not favorable, and prices will continue to be weak in the near future.
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