Positive Factors Result in Continuous Rise of Ammonium Sulfate (July 17-21)
On July 24, 2023, according to SunSirs’ Commodity Market Analysis System, the average market price of ammonium sulfate in China increased from 855 RMB/ton on July 17th to 870 RMB/ton on July 21st. This represents a 1.75% price increase during the week.
Analysis Review:
The domestic ammonium sulfate market showed signs of improvement during this week, with prices continuing to rise. The coking grade ammonium sulfate inventory remained low, leading to a further increase in bidding prices. Additionally, there was a slight increase in prices for CPL grade ammonium sulfate. The upward trend in the international urea market positively influenced the industry’s sentiment. Urea prices continued to strengthen and rise, which had a lateral positive impact on the ammonium sulfate market. Downstream procurement was primarily driven by demand, leading to stable support from the demand side, thereby keeping the ammonium sulfate market strong. As of July 21st, the mainstream factory quotation for coking grade ammonium sulfate in Shandong stood at around 865 RMB/ton, while for CPL grade ammonium sulfate, it ranged from 860 to 890 RMB/ton.
Market Outlook:
Ammonium sulfate analysts at SunSirs expect that domestic ammonium sulphate prices will continue to rise due to the recent boost in urea prices and the low inventory of ammonium sulfate. The industry’s confidence in buying is expected to increase further. Considering the influence of favourable factors, the price of ammonium sulfate is anticipated to remain stronger in the short term.
