1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average ex factory price of ammonium sulfate in China was 1066 yuan/ton on November 1st, and 733 yuan/ton on November 28th. This month, the price of ammonium sulfate has dropped by 31.25%.

2、 Market analysis

The market price of ammonium sulfate has dropped significantly this month. In the first half of November, the domestic ammonium sulfate market price slightly decreased. The market demand is weak, and downstream and dealer inquiries have decreased. The decrease in international market transaction prices has an impact on the domestic market. The industry operates cautiously, with a clear bearish sentiment. In the second half of November, the domestic bidding price for ammonium sulfate was significantly reduced. Market demand remains sluggish, with light trading. The export market of ammonium sulfate continues to weaken, coupled with the continuous decline in urea prices, which has a negative impact on the ammonium sulfate market. As of November 28th, the mainstream ex factory quotation for coking grade ammonium sulfate in Henan region is around 700 yuan/ton. The mainstream ex factory quotation for ammonium sulfate in Shandong region is around 700-750 yuan/ton.

According to the weekly K-bar chart from August 28, 2023 to November 20, 2023, it can be seen that the domestic ammonium sulfate cycle has seen mixed ups and downs. There was a significant decline in November, with the largest decline being -17.79% in the week of November 20th.

The downstream compound fertilizer market has slightly increased this month, with narrow price adjustments. This month, the price of raw material urea rose first and then fell, and the price of raw material ammonium phosphate increased significantly, putting increased cost pressure. Compound fertilizer enterprises have a large amount of demand, and the market is mainly driven by high prices.

3、 Future Market Forecast

Analysts from Shengyishe Ammonium Sulfate believe that the sulfuric acid market has been continuously declining in recent days. At present, downstream delivery capacity is weak, and market trading is scarce. The continuous weakness of the urea market, coupled with the downturn in foreign markets, makes it difficult for the domestic ammonium sulfate market to improve in the short term. It is expected that the price of ammonium sulfate will continue to decline weakly in the short term.