SunSirs: Demand Was Weak, the Price of Ammonium Sulfate Fell (October 16-23)
October 25 2023 13:51:24 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of domestic ammonium sulfate market was 1,126 RMB/ton on October 16th, and 1,120 RMB/ton on October 23rd. This week, the domestic ammonium sulfate market price fell by 0.59%.
Analysis review
The domestic ammonium sulfate market price had slightly declined this week. Although the urea market had risen, the domestic and international demand was poor, and the bidding price of ammonium sulfate had been lowered. The market was mainly cautious and wait-and-see, while dealers had poor enthusiasm for purchasing goods. Downstream compound fertilizer enterprises had reduced operating rates and reduced demand for ammonium sulfate procurement. As of October 23rd, the mainstream market quotation for coking grade ammonium sulfate in Hebei Province was around 1,050 RMB/ton. The mainstream factory quotation for CPL ammonium sulfate in Shandong was around 1,080-1,130 RMB/ton.
Market outlook
Ammonium sulfate market analysts from SunSirs believe that the recent downward trend in ammonium sulfate prices had resulted in low purchasing enthusiasm from downstream and distributors. As of October 23, market demand was weak, and it is expected that the price of ammonium sulfate will mainly decline 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)
