SunSirs: On November 22nd, the Domestic Liquid Ammonia market price declined
November 23 2023 09:44:51 SunSirs (John)
Price: 4,206 RMB/ton
Analysis review
On November 22nd, the domestic liquid ammonia market fell from its high point, and the Shandong region continued to decline this week. According to the Commodity Market Analysis System of SunSirs, the main production area of Shandong fell by 1.9% on Wednesday, and the trading center fell by about 200 RMB/ton compared to the previous Friday. The main reason was that the trend of tight supply in the main production areas had eased, and some faulty enterprises had resumed operation, gradually showing supply pressure. Since November, the import supply had also increased, which had an impact on the liquid ammonia market in the region. Large factories in Shandong, Hebei, and other regions had all lowered their prices, with most of the price reductions on November ranging from 50 to 100 RMB/ton. On the demand side, downstream demand was relatively stable, and the atmosphere of urea speculation had declined. The current industrial demand remained strong. As of November 22, the mainstream quotation in Shandong region was between 4,000-4,200 RMB/ton.
Market outlook
Liquid ammonia analysts from SunSirs believe that in the short term, the supply and demand pattern of the ammonia market will continue to shift from tightening to easing, and prices will continue to be weak in the near future.
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