SunSirs: On January 8th, the Domestic Liquid Ammonia Market Price Fell
January 10 2024 10:42:47 SunSirs (John)
Price: 3,450 RMB/ton
Analysis review
On January 8th, the domestic liquid ammonia market experienced a significant decline, with a significant decline in the Shandong region at the beginning of the week. According to the Commodity Market Analysis System of SunSirs, the main production area of Shandong experienced a daily decline of 5.22%, with a trading center dropping by about 200 RMB/ton compared to last Friday. The main reason was that the main production areas had abundant supply, and multiple regions across the country were experiencing a coordinated decline. The ammonia emissions of ammonia enterprises in Shandong region continued to be high, and inventory pressure was increasing. Therefore, it was inevitable to reduce prices for sales. Large factories in Shandong, Hebei, and other regions had all lowered their prices on Monday, with most of the price reductions on January 8th being between 100-200 RMB/ton. From the demand side perspective, downstream demand was relatively stable, urea was weak and declining, and market transactions were light. The current industrial demand remains in high demand. As of January 8th, the mainstream quotation for liquid ammonia in Shandong region was between 3,300-3,500 RMB/ton.
Market outlook
SunSirs' liquid ammonia analyst believes that the supply and demand pattern of the ammonia market is relatively loose in the short term, and prices will continue to be weak in the near future.
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