After the holiday (May 1-6), the ammonium sulfate market fluctuated little.

On May 1st, the average factory price of domestic ammonium sulfate was 880 RMB/ton, according to the Commodity Market Analysis System, and on May 6th, the average factory price was 883 RMB/ton. The price of ammonium sulfate increased by 0.38% this week.

Analysis review

This week, the market price of ammonium sulfate varied just slightly. The ammonium sulfate market was consolidated after the holiday, manufacturers shipped normally, and transactions were average. The international market for ammonium sulfate remained sluggish, with no signs of change. Downstream procurement was primarily driven by demand. This week, the bidding price for coking grade ammonium sulfate fell marginally.

Moreover, the price of CPL grade ammonium sulfate increased marginally. The mainstream factory quotation for coking grade ammonium sulfate in Shandong as of May 6th was around 820-880 RMB/ton. The typical factory quotation for CPL ammonium sulfate in Shandong was around 860-910 RMB/ton.

The downstream compound fertilizer market was weaker this week. The market for composite fertilizer raw materials was deteriorating, and cost support was eroding. While the corn fertilizer was still on the market, the manufacturer primarily delivered orders.

Market outlook

The domestic ammonium sulfate market, we believe, had minor swings following the holiday, with average market activity and a sluggish international market. The amount of downstream procurement was minimal, and transactions were mostly made at modest costs. In the immediate term, the ammonium sulfate market is projected to function within a limited range.