SunSirs: On February 5th, the Market Price of Liquid Ammonia in Shandong Province Decreased
February 07 2024 15:47:55 SunSirs (John)
Price: 2,983 RMB/ton
Analysis review
On February 5th, the liquid ammonia market in Shandong region fell. According to the Commodity Market Analysis System of SunSirs, the daily decline in the main production area of Shandong was 2.19%. The main reason was that manufacturers tried to ship as much as possible before the holiday, leading to an increase in ammonia emissions from large factories, as well as the resumption of work after some equipment failures and maintenance, resulting in a loose supply side performance. Last weekend, a large factory in Shandong lowered prices by over 300 RMB/ton. On Monday, dealers mostly quoted lower prices, resulting in sluggish sales. And the downstream procurement enthusiasm was not high, urea remained weak in operation, and the weak demand side suppressed the price of liquid ammonia. As of February 5th, the mainstream quotation in Shandong region was between 2,800-3,000 RMB/ton.
Market outlook
Downstream procurement slowed down before the holiday, with sufficient supply and no improvement in downstream demand. It is expected that liquid ammonia will remain weak in the near future.
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