1、 Price trend

According to the monitoring data of the business community, the average factory price of domestic ammonium sulfate was 1504 yuan/ton on November 1, and 1450 yuan/ton on November 28. The price of ammonium sulfate fell 3.55% this month.

2、 Market analysis

According to the weekly rise and fall chart from September 5, 2022 to November 27, 2022, ammonium sulfate has seen a lot of ups and downs since November. The maximum increase was 1.16% in the week of November 21, and the maximum decrease was -3.32% in the week of November 7.

Ammonium sulfate prices fell first and then rose this month. In the first ten days of November, the market of ammonium sulfate fluctuated downward. The market demand for ammonium sulfate is low, and the number of transactions is low. Downstream procurement is mainly based on demand, and the industry operates cautiously. The export demand is weak and the overall performance is poor. The bidding price of coking ammonium sulfate was generally lowered, and the price of domestic ammonium sulfate also continued to decline. In late November, the ammonium sulfate market started to rise steadily. The operating rate of downstream compound fertilizer enterprises has increased, the demand for winter storage procurement has increased, the on-site turnover is fair, and the export demand follows. The operating rate of coking plant and caprolactam plant decreased slightly, and the supply of ammonium sulfate in the plant decreased. As of November 28, the main factory quotation of coking grade ammonium sulfate in Shandong was about 1415 yuan/ton, and that in Hebei was about 1420 yuan/ton. Domestic ammonium sulfate, the factory quotation in Shandong is 1390-1540 yuan/ton.

The downstream compound fertilizer market has improved this month, with compound fertilizer enterprises starting at a low level. In the first ten days of November, the compound fertilizer market was mainly waiting for consolidation and operation. The winter storage market is progressing slowly, the demand for raw materials is not good, and the turnover in the compound fertilizer field is light. Since the middle of November, supported by raw materials, the domestic compound fertilizer market has been running well, and the winter storage market has steadily followed up. The raw materials continue to grow, the pressure on the cost of compound fertilizer increases, and the manufacturers mainly pay high prices. At present, there is a strong bullish atmosphere in the downstream compound fertilizer market, and most enterprises begin to stop quoting.

3、 Future market forecast

Ammonium sulfate analysts from the business community believe that at present, the domestic market demand for ammonium sulfate is stable, the market trading is fair, and the export demand is weak. The price of coking grade ammonium sulfate in various regions in China rose and fell mutually, and the supply of domestic grade ammonium sulfate was still low. The recent rise in urea prices has provided some support for the ammonium sulfate market. It is expected that in the short term, the market of ammonium sulfate will be dominated by narrow amplitude shocks.