Ammonium Sulfate Prices Remain Stable, Only Watch-and-See (June 15-21, 2023)

Source: SunSirs

Price Trend:

Based on the analysis from SunSirs’ Commodity Market Analysis System, the average market price of ammonium sulfate in China remained unchanged at 696 RMB/ton from June 15th to June 21st. The prices of ammonium sulfate have remained stable during this week.

Analysis Review:

The domestic market for ammonium sulfate remained steady throughout the week. Prices for coking grade ammonium sulfate remained stable with slight fluctuations at a low level. Similarly, CPL grade ammonium sulfate maintained stability both in the market and its price. The export market experienced sluggishness, resulting in fewer orders. The demand for ammonium sulfate in the downstream composite fertilizer market was limited, as the market weakened. As of June 21st, the mainstream factory quotation for coking grade ammonium sulfate in Shandong stood at approximately 630 RMB/ton. Meanwhile, CPL grade ammonium sulfate was quoted around 610-690 RMB/ton in the mainstream factories of Shandong.

The downstream compound fertilizer market exhibited weak consolidation during this week. The market for composite fertilizer raw materials experienced weakening, with weak cost support. Downstream procurement was primarily driven by demand, and the market displayed a cautious approach. It is anticipated that the short-term composite fertilizer market will undergo limited adjustments within a narrow range.

Market Outlook:

According to analysts from SunSirs, the domestic market for ammonium sulfate recently showed reduced volatility, along with weak domestic and international demand. Downstream buyers made purchases based on immediate needs, resulting in limited market trading. Consequently, it is expected that the ammonium sulfate market will experience narrow fluctuations in the short term.