1、 Price trend

According to the Commodity Market Analysis System of the Business Society, the average factory price of ammonium sulfate in China was 880 yuan/ton on May 1st, and 786 yuan/ton on May 29th. The price of ammonium sulfate has decreased by 10.61% this month.

2、 Market analysis

According to the weekly fluctuations from March 6, 2023 to May 22, 2023, it can be seen that the rise and fall of domestic ammonium sulfate cycle are mixed. There was a significant decline in May, with the largest decline of -5.14% in the week ending May 22nd.

The ammonium sulfate market has weakened this month and prices have continued to decline. In the first half of May, the international market for ammonium sulfate remained weak and there was currently no significant improvement. The domestic market trend is not good, and downstream purchases are made on demand, often at low prices. The operating rate of coking grade ammonium sulfate enterprises is stable, the market situation is poor, and the bidding price has decreased. The operating rate of domestic ammonium sulfate enterprises has decreased, the market supply is tight, and prices are firm. In the second half of May, the operating rate of domestic ammonium sulfate enterprises slightly increased, and the market began to weaken. Due to the significant decline in urea prices, the ammonium sulfate market has been negatively affected, and the price of ammonium sulfate continues to decline, resulting in a strong bearish sentiment in the market. As of May 29th, the mainstream factory quotation for coking grade ammonium sulfate in Shandong is around 720-760 yuan/ton. The mainstream factory quotation for domestic ammonium sulfate in Shandong is around 780-830 yuan/ton.

This month, the downstream composite fertilizer market has been weak in consolidation and operation, and the market’s trading focus has declined. The trend of composite fertilizer raw materials is not good, and cost support is weak. Downstream restocking is necessary, and fertilizer preparation is more cautious. The main focus is on centralized delivery orders for corn fertilizer, with one more new order being discussed.

3、 Future Market Forecast

Analysts from the Business Society believe that the domestic market for ammonium sulfate has been sluggish recently, with prices continuing to weaken. The continuous decline in urea prices is negative for the nitrogen fertilizer market, and downstream purchases are under pressure. It is expected that the price of ammonium sulfate will continue to decline in the short term.