1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market was 926 yuan/ton on September 1st, and 883 yuan/ton on September 27th. The market price of ammonium sulfate has dropped by 4.65% this month.
2、 Market analysis
The market price of ammonium sulfate weakened and declined in September. In the first half of September, the market price of ammonium sulfate first fell and then rose. The operating rate of coking enterprises remains stable, while the operating rate of internal level enterprises has decreased. Downstream demand has weakened, inquiries have decreased, and there is a resistance to high prices. The export market did not meet expectations, coupled with the decline in urea prices, which has a negative impact on ammonium sulfate. In the second half of September, the market price of ammonium sulfate weakened and fell. Before the holiday, downstream stocking enthusiasm was not high, and market inquiries decreased, resulting in a wait-and-see attitude. The export sector is mainly supported by essential needs, and there is currently no significant improvement in the market. As of September 27th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 860 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 860-910 yuan/ton.
According to the weekly K-bar chart from July 1, 2024 to September 16, 2024, it can be seen that the domestic ammonium sulfate cycle is fluctuating. Ammonium sulfate experienced a significant decline in September, with the largest drop occurring in the week of September 2nd at -0.55%.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the market demand for ammonium sulfate has been poor recently, with downstream price cutting purchases and limited market transactions, with mostly low-priced transactions. There is currently no positive news before the holiday, and it is expected that the domestic ammonium sulfate market price will continue to weaken and decline in the short term.
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