October 21st News
I. Price Trends
According to the commodity market analysis system, on October 21, the average market price of caprolactam-grade ammonium sulfate in China was 1,230 CNY per ton, compared to the average market price of 1,250 CNY per ton on October 15. This week, the price of ammonium sulfate in China fell by 1.60%.
2. Market Analysis
Supply and Demand Situation
This week, the Chinese market for coking-grade ammonium sulfate showed mixed trends, with the price of caprolactam-grade ammonium sulfate continuing to fall and the recent market stabilizing. Downstream buyers are restocking according to their needs and are being cautious with their purchases of ammonium sulfate, while granular factories have some rigid demand support. This week, international urea prices first fell and then rose, and inventories of ammonium sulfate in the market decreased, indicating a positive outlook for future export conditions.
Market Conditions
As of October 21, for metallurgical-grade ammonium sulfate, the mainstream ex-factory quotation in Shandong region of China is around 1,045 CNY per ton. For caprolactam-grade ammonium sulfate, the mainstream ex-factory quotation in Shandong region of China is around 1,200-1,240 CNY per ton.
III. Future Market Outlook
Ammonium sulfate analysts believe that the price trend of ammonium sulfate has been mainly stable recently. With the continuous rise in urea prices, it indirectly benefits the ammonium sulfate market. It is expected that in the short term, after a period of stable consolidation, the market price of ammonium sulfate will increase. It is recommended to pay attention to changes in China's policy.
