SunSirs: The Price of Ammonium Sulfate Had Significantly Increased, with Caution in the Future (September 4-8)
September 12 2023 10:37:41 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of domestic ammonium sulfate market was 876 RMB/ton on September 4th, and 1,140 RMB/ton on September 8th. This week, the domestic ammonium sulfate market price was increased by 30.40%.
Analysis review
The domestic ammonium sulfate market price had significantly increased this week. Affected by domestic urea export restrictions and a new round of bidding news from India, the international nitrogen fertilizer market had surged. The bidding price of domestic ammonium sulfate significantly increased, and export orders had increased significantly. Downstream and distributors were actively purchasing goods. The market had a strong bullish atmosphere and good trading. As of September 8th, 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 1,100-1,170 RMB/ton.
Market outlook
Analysts from SunSirs believe that the price trend of ammonium sulfate had continued to rise recently. As of September 8th, the market inventory was low, and the supply and demand sides were stable. After the continuous rise of ammonium sulfate, prices started to loosen, downstream and dealers were mainly cautious. It is expected that the price of ammonium sulfate will be consolidated at high levels in the short term.
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