SunSirs: There Was Currently No Positive News, and Ammonium Sulfate Continued Its Downward Trend (November 3-9)
November 10 2023 11:04:49 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of domestic ammonium sulfate market was 1,003 RMB/ton on November 3, and 976 RMB/ton on November 9. This week, the domestic ammonium sulfate market price fell by 2.66%.
Analysis review
The domestic ammonium sulfate market price continued to decline this week. As of November 9, the market demand was poor, and downstream and dealer inquiries had decreased. The international market continued to weaken, which had a bearish impact on the domestic market. The bearish sentiment in the industry was obvious, and be cautious when operating. As of November 9th, the mainstream market quotation for coking grade ammonium sulfate in Hebei Province was around 950 RMB/ton. The mainstream factory quotation for CPL ammonium sulfate in Shandong was around 940-980 RMB/ton.
Market outlook
Analysts from SunSirs' ammonium sulfate market believe that the recent trend of ammonium sulfate prices has continued to decline, with low downstream demand and relatively few transactions on the market. Currently, there is no positive support. It is expected that the domestic ammonium sulfate market trend will continue to be weaker and downward 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)
