As the weekend approaches, the domestic liquid ammonia market continues its decline at the beginning of the week. According to monitoring by Business News, on April 6th, the daily decline in the main production area of Shandong was 2.20%. The cumulative decline this week is 7.5%. The largest factories in Shandong province have cumulatively lowered prices by up to 300 yuan/ton this week. On the one hand, supply has increased, manufacturers’ shipments have slowed down, and inventory pressure has increased. Overlapping imported sources of goods has impacted the domestic market. On the other hand, the downstream product urea lacks support and maintains a weak trend. Subsequently, the contradiction between supply and demand further intensified. At present, the mainstream quotation in Shandong region is between 3600-3750 yuan/ton.
Future forecast: The downstream urea market continues to be weak, while ammonia enterprises are still in the process of accumulating inventory. It is expected that the supply-demand contradiction will be difficult to alleviate in the near future. The price of feed liquid ammonia will still hover at a low level.
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