SunSirs: The Market Was Positive, and the Ammonium Sulfate Increased over 20% This Week (July 24-28)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of ammonium sulfate in China was 870 RMB/ton on July 24th, and 1,050 RMB/ton on July 28th. This week, the market price of ammonium sulfate was increased by 20.69%.

Analysis review

The domestic ammonium sulfate market price had significantly increased this week. As of July 28th, the inventory of ammonium sulfate market was low, and manufacturers and distributors were reluctant to sell, operating at high prices. The significant increase in urea prices this week had boosted the nitrogen fertilizer market and boosted the ammonium sulfate market. The bidding price of coking grade ammonium sulfate had significantly increased, and CPL grade ammonium sulfate rapidly followed suit. The international market for ammonium sulfate was also improving, with increased buying. Downstream procurement was active, with stable support on the demand side. As of July 28th, the mainstream market quotation for coking grade ammonium sulfate in Hebei Province was around 1,100 RMB/ton. The mainstream factory quotation for CPL ammonium sulfate in Shandong was around 1,160-1,170 RMB/ton.

According to the weekly K-bar chart of ammonium sulfate, it can be seen that the price of ammonium sulfate had increased significantly in recent days, and the maximum increase was 20.69% for the week ending July 28th.

Market outlook

Analysts from SunSirs believe that due to the recent surge in urea, the ammonium sulfate market continued to rise, and supported by export orders, ammonium sulfate was selling well. Under the influence of positive factors, it is expected that the price of ammonium sulfate will continue to rise in the short term.

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