SunSirs: On March 20th, the Market Price of Liquid Ammonia in Shandong Province Increased
March 22 2024 11:39:29 SunSirs (John)
Price: 3,116 RMB/ton
Analysis review
On March 20th, the liquid ammonia market in Shandong region rose. According to the commodity market analysis system of SunSirs, the daily increase in the main production area of Shandong was 4.82%. The main reason for this week's maintenance of some equipment failures in the main production areas of Shandong, Henan, and other regions had led to a contraction in the supply side, which had brought positive news and a rise in market prices. On Wednesday, major factories in Shandong and surrounding Hebei and Henan provinces generally raised prices by 100-200 RMB/ton. The market atmosphere was strong, and dealer quotes were rising. However, there had not been a significant improvement in downstream demand, and agricultural demand was still in a gap period. Industrial demand remains strong, and the increase was mainly driven by positive supply side factors. As of March 20th, the mainstream quotation in Shandong region was between 3,000-3,200 RMB/ton.
Market outlook
It is expected that the northern liquid ammonia enterprises may resume work in the short term, and the tight supply pattern may improve in the later stage. Coupled with the fact that the downstream agricultural peak season had not yet arrived, it’s need to be cautious about the later market situation. It is expected that the upward trend of liquid ammonia in the later stage may be difficult to maintain, and the possibility of price reversal cannot be ruled out.
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