1、 Price trend

According to the Commodity Market Analysis System of the Business Society, the average factory price of domestic ammonium sulfate on August 1st was 1052 yuan/ton. On August 28th, the average factory price of domestic ammonium sulfate was 920 yuan/ton. This month, the price of ammonium sulfate decreased by 12.59%.

2、 Market analysis

This month, the high market price of ammonium sulfate has declined, and the price has dropped significantly. In early August, the ammonium sulfate market continued its previous trend, with prices rising slightly. The high price of urea remains a positive factor. The international market for ammonium sulfate is performing well, with strong support for export orders. Downstream and distributors are actively restocking. The bidding price of coking grade ammonium sulfate has increased, while the price of domestic grade ammonium sulfate has also increased. Starting from August 7th, the price of ammonium sulfate began to decline and continued to decline until the end of the month. The international market for ammonium sulfate has performed poorly, with a significant price decline, which has a bearish impact on the domestic market. Combined with the continuous increase in prices before, the price of ammonium sulfate has been at a high level, and downstream and dealers have a resistance towards high prices. The bidding price of ammonium sulfate has significantly decreased, and the focus of market transactions has declined. As of August 28th, the mainstream quotation for coking grade ammonium sulfate in Hebei region is around 900 yuan/ton. The mainstream factory quotation for domestic ammonium sulfate in Shandong is around 900-940 yuan/ton.

According to the weekly fluctuations from May 29, 2023 to August 21, 2023, it can be seen that the rise and fall of domestic ammonium sulfate cycle are mixed. There was a significant decline in August, with the largest decline being -6.9% in the week ending August 14th.

The downstream compound fertilizer market has shown a positive trend this month, with prices operating on a stronger side. The prices of urea, phosphorus, and potassium, the raw materials for compound fertilizers, have increased, resulting in strong cost support. In addition, the company has sufficient waiting volume, and the focus of trading on the market has increased, resulting in a strong market in the short term.

3、 Future Market Forecast

According to ammonium sulfate analysts from Business Society, the international market for ammonium sulfate has been continuously sluggish recently, and the domestic market has a strong wait-and-see mentality. Downstream procurement is just needed, and dealers should prioritize cautious operation. It is expected that the price of ammonium sulfate will continue to weaken and decline in the short term.