SunSirs: Good News Hard to Find, Ammonium Sulfate Prices Continued to Decline (March 15-21)
March 25 2024 10:25:08 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of domestic ammonium sulfate market was 850 RMB/ton on March 15th, and 816 RMB/ton on March 21st. This week, the domestic ammonium sulfate market price fell by 3.92%.
Analysis review
The domestic ammonium sulfate market price had fallen this week. As of March 21st, the trading volume in the ammonium sulfate market was sluggish, and downstream purchases were on demand. There was a resistance to high prices and many transactions were made at low prices. Recently, the price of urea had weakened, coupled with the fact that the export market had not improved, which was bearish for the domestic ammonium sulfate market. As of March 21st, the mainstream ex factory quotation for coking grade ammonium sulfate in Hebei region was around 750-805 RMB/ton. The mainstream ex factory quotation for CPL ammonium sulfate in Shandong region was around 830-850 RMB/ton.
Market outlook
According to analysts from SunSirs, the price trend of ammonium sulfate had recently declined. The demand side continued to be sluggish, with poor domestic and international market conditions. As of March 21st, it was difficult to find favorable market conditions, and it is expected that the domestic ammonium sulfate price will continue to be weaker and decline 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)
- 2024-03-15 SunSirs: Exports Were Weak and Ammonium Sulfate Prices Fell (March 8-14)
- 2024-03-08 SunSirs: Trading Was Flat, and Ammonium Sulfate Tended to Weaken during Operation (March 1-7)
