SunSir: The Market Had Weakened, and the Price of Ammonium Sulfate Had Fallen from a High Level (August 4-10)
August 11 2023 09:24:47 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average market price of ammonium sulfate in China was 1,110 RMB/ton on August 4th, and 1,070 RMB/ton on August 10th. This week, the market price of ammonium sulfate was decreased by 3.60%.
Analysis review
This week, the domestic ammonium sulfate market price fell back from a high point. This week, urea prices fell, negatively affecting the ammonium sulfate market. This week, the bidding price of ammonium sulfate had significantly decreased, and the focus of market transactions had declined. The shipment of ammonium sulfate was fair in the international market, with support from export orders. Downstream and distributors purchased cautiously and had a strong wait-and-see mentality. As of August 10th, the mainstream market quotation for coking grade ammonium sulfate in Hebei Province was around 1,040-1,100 RMB/ton. The mainstream factory quotation for CPL grade ammonium sulfate in Shandong was around 1,020-1,080 RMB/ton.
Market outlook
Analysts from SunSirs believe that the ammonium sulfate market started to weaken recently, with a significant drop in high market prices and a limited decrease in low prices. As of August 10, the market demand was stable, and the industry was mainly wait-and-see. It is expected that the price trend of ammonium sulfate will be weaker and downward in the short term.
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