SunSirs: The Urea Market Was Improving, Driving the Ammonium Sulfate Market to Soar (July 7-14)
July 17 2023 10:38:38 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of domestic ammonium sulfate market was 750 RMB/ton on July 7th, and 850 RMB/ton on July 14th. This week, the market price of ammonium sulfate was increased by 13.32%.
Analysis review
The domestic ammonium sulfate market continued to improve this week, with prices rising significantly. The operating rate of enterprises had not changed much. Due to the recent continuous increase in urea prices, which was beneficial for the ammonium sulfate market, the domestic ammonium sulfate market continued to soar. The market for coking grade ammonium sulfate had significantly increased, and domestic CPL grade ammonium sulfate followed the trend. However, downstream replenishment demand needed to be followed up, and the upward trend slowed down after the price rises. Downstream procurement was mainly based on demand, and market transactions were relatively low. Manufacturers and distributors were mainly on the sidelines, the market was hindered from continuing to rise in the future. As of July 14th, the mainstream factory quotation for coking grade ammonium sulfate in Shandong was around 850 RMB/ton. The mainstream factory quotation for domestic CPL grade ammonium sulfate in Shandong was around 830-890 RMB/ton.
Market outlook
Analysts from SunSirs believe that although the domestic ammonium sulfate market price had significantly increased, domestic and international demand was still weak. Downstream replenishment was just on demand, and market trading was limited. It is expected that the ammonium sulfate market will operate at high levels and adjust in a narrow range in the short term.
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- 2024-04-24 SunSirs: There Was Temporarily No Positive News in the Market, and Ammonium Sulfate Had Slightly Declined (April 15-19)
- 2024-04-12 SunSirs: Demand Increased and Ammonium Sulfate Prices Rose (April 5-11)
- 2024-04-09 SunSirs: Trading Volume Increased, and the Price of Ammonium Sulfate Stopped Falling and Rose (April 1-7)
- 2024-03-25 SunSirs: Good News Hard to Find, Ammonium Sulfate Prices Continued to Decline (March 15-21)
- 2024-03-15 SunSirs: Exports Were Weak and Ammonium Sulfate Prices Fell (March 8-14)
