The domestic ammonium sulfate market first suppressed and then rebounded in November

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market was 850 yuan/ton on November 1st, and 821 yuan/ton on November 27th. This month, the market price of ammonium sulfate has dropped by 3.33%.

2、 Market analysis

This month, the market price of ammonium sulfate first fell and then rose. The operating rate of coking enterprises remains stable, with a slight increase in the operating rate at the domestic level. In early November, the price of ammonium sulfate in the domestic market weakened and declined, and the focus of transactions shifted downwards. Downstream inquiries have decreased, demand has weakened, and coupled with the poor performance of ammonium sulfate exports, ammonium sulfate continues to operate weakly. In mid to late November, the domestic price of ammonium sulfate slowly rose. The downstream demand has increased, and the transaction price of ammonium sulfate market has risen. However, the international market for ammonium sulfate has not improved yet and remains mainly weak. As of November 27th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 760 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 820-860 yuan/ton.

According to the weekly K-bar chart from September 2, 2024 to November 18, 2024, it can be seen that the domestic ammonium sulfate cycle is fluctuating. Ammonium sulfate fell significantly in November, with the largest drop being -5.69% in the week of November 4th.

3、 Future forecast

An ammonium sulfate analyst from Shengyi Society believes that the trading atmosphere in the ammonium sulfate market has been improving recently, with downstream urgent purchases resulting in a slight increase in domestic prices. However, the export market remains weak. It is expected that the short-term domestic ammonium sulfate market will mainly experience a narrow adjustment in price.