SunSirs: On April 1st, the Market Price of Liquid Ammonia in Shandong Province Fell
April 03 2024 10:53:52 SunSirs (John)
Price: 3,073 RMB/ton
Analysis review
On April 1st, the liquid ammonia market in Shandong region experienced a significant decline. According to the Commodity Market Analysis System of SunSirs, the daily decline in the main production area of Shandong was 7.52%. The main reason was the resumption of work on some of the equipment that underwent troubleshooting in the early stage, resulting in a loose supply performance. Coupled with changes in downstream urea units, ammonia conversion was more common, leading to a short-term surge in ammonia production. Last weekend, along with March 1st, a large factory in Shandong lowered prices by nearly 300 RMB/ton. On Monday, dealers mostly quoted lower prices, resulting in sluggish sales. Moreover, downstream procurement enthusiasm was not high, urea remained weak, prices continued to decline, agricultural demand gap had not passed, industrial demand remained rigid, and the sluggish demand side had suppressed the price of liquid ammonia. As of April 1st, the mainstream quotation in Shandong region was between 2,900-3,100 RMB/ton.
Market outlook
Before the Qingming Festival, downstream procurement slowed down, supply was sufficient, and downstream demand did not improve. It is expected that liquid ammonia will remain weak in the near future, and it is not ruled out that prices may continue to decline.
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