China Domestic Ammonium Sulfate Fell Sharply in March 2023

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Price trend:

The average factory price of domestic ammonium sulfate on March 1 was 1,116 RMB/ton, and on March 29 was 890 RMB/ton, fell by 20.30% this month.

Analysis review:

The price of ammonium sulfate fell sharply this month. In the first half of March, it fluctuated slightly. The market demand was stable, and downstream purchases were made on demand, with acceptable on-site trading. Export prices remained stable. In the second half of March, the price of ammonium sulfate continued to decline. The market demand continued to weaken, downstream purchased a small number of goods and new orders were weak. The export performance was poor, and the market situation was sluggish. The bidding price of coking grade ammonium sulphate dropped significantly, caprolactam grade followed the downward trend. As of March 29, the mainstream ex-factory quotation for coking grade ammonium sulfate in Shandong was around 860 RMB/ton. Caprolactam grade was around 870-920 RMB/ton.

Domestic Ammonium Sulfate Fell Sharply in March

According to the weekly increase and decrease from January 2, 2023 to March 20, 2023, it can be seen that the rise and fall of the domestic ammonium sulfate cycle were mixed. There was a significant decline in March, with the largest decline of 11.08% in the week of March 20.

The downstream compound fertilizer market was weaker this month. The market for raw materials weakened, and cost support weakened. The manufacturer flexibly adjusted the price. The enthusiasm for terminal fertilizer use was not high, and the composite fertilizer market was dominated by low-price transactions, with weak consolidation and operation in the short term.

Market Outlook:

Recently, the ammonium sulfate market was sluggish, and the trading in the market was weak. The industry was mostly on the sidelines. The performance of the international market was still poor, and with order prices were low. It is expected it will be consolidated to be weaker in the short term.

Source: The Price of Ammonium Sulfate Fell Sharply in March (March 1-29)

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