1、 Price trend

 

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Business agency: domestic maleic anhydride market price fluctuated and fell in November

 

According to the data of the business community, the average price of maleic anhydride as of November 30 was 7000.00 yuan/ton (tax included), down 6.42% from 7480.00 yuan/ton on November 1.

 

On November 30, the maleic anhydride commodity index was 65.94, unchanged from yesterday, down 60.38% from the highest point of 166.43 (2021-12-15) in the cycle, and up 28.84% from the lowest point of 51.18 on April 14, 2020. (Note: Period refers to 2011-09-01 to now)

 

2、 Analysis of influencing factors

 

In November, the domestic benzene maleic anhydride market continued to shut down. Zhejiang Dachang is expected to shut down in December. At the beginning of the month, it is in the stage of stocking up. The price of the main maleic anhydride factory continues to fall. The resin is operated cautiously and mainly purchased on demand. At the end of the month, the logistics in many places across the country was blocked, and the supply of maleic anhydride in major factories was sufficient. However, Jiangsu and Zhejiang manufacturers began to close their doors and wait. Shandong manufacturers reduced their production, and the price of maleic anhydride showed an upward trend. As of the 30th, the solid anhydride in Shandong was about 6700 yuan/ton, and that in Jiangsu was about 6750 yuan/ton. There was no new price outflow from Shanxi and Hebei, and that in South China was about 7200 yuan/ton.

 

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In November, the trend of international crude oil prices was volatile and downward. The Federal Reserve suggested that the interest rate increase was far from over and was not close to the end of monetary tightening. At present, the interest rate increase of the Federal Reserve has limited impact on inflation, which is not enough to reduce inflation. The Federal Reserve may need to take more tightening measures to curb inflation in the future, which will affect the decline of crude oil prices. The Organization of Petroleum Exporting Countries and its allies (OPEC+) once again lowered the growth expectation of global crude oil demand in 2022. With the risk of global economic recession intensifying, the future slowdown of demand growth is a certainty, and fuel demand will also face pressure. The most important thing is that the overall economy is weak. The severe epidemic situation in Asia continues to drag down demand expectations. The prospect of energy demand is still not optimistic, and economic weakness depresses oil prices.

 

In November, the hydrogenation benzene market showed a downward trend. The ex factory price in North China was 7733.33 yuan/ton at the beginning of the month and 6916.67 yuan/ton at the end of the month, down 10.56% month on month. The hydrogenation benzene market as a whole is still weak in the near future. The performance of crude oil and styrene is still weak. The market is in a strong wait-and-see mood. Affected by the decline of pure benzene, the price of hydrogenation benzene continues to decline. There are some bargain hunting purchases in the market, and the deal is fair. In terms of supply, East China has a relatively sufficient supply of imported goods, which has a certain drag on the market mentality.

 

3、 Future market forecast

 

Maleic anhydride product analysts from the business community believe that the domestic maleic anhydride market continued to decline in November. At present, the domestic maleic anhydride market suffers from a serious deficit in benzene oxidation process. The factory has been shut down for maintenance, and the market circulation of goods is small. Zhejiang Dachang is expected to stop in December. In the first ten days of this year, it was in the stage of stocking up. The price of the main maleic anhydride factory continued to fall. The resin was operated cautiously, and it was mainly purchased on demand. At present, the logistics in many places across the country is blocked, and the supply of maleic anhydride in the main factories is sufficient. However, the manufacturers in Jiangsu and Zhejiang have begun to close the offer and wait, while the production of Shandong manufacturers has decreased, and the price has an upward trend at the end of the month. Maleic anhydride market is expected to rise in the near future.

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1、 Price trend

 

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According to the data monitored by the business community, the PVC SG5 spot market price fluctuated mainly in a narrow range in November, and fell slightly overall. On November 1, the average price of domestic PVC was 6021.43 yuan/ton, and on November 29, the average price was 6002.86 yuan/ton. The price fell 0.31% in the month.

 

2、 Market analysis

 

In November, PVC SG5 spot market prices fluctuated mainly in a narrow range, and fell slightly overall. This month, the PVC spot market performance was average, and the market was tepid, which has been in a narrow range. Downstream procurement enthusiasm is not high, and the transaction of real orders is more cautious, focusing on rigid demand. On November 25, Bank of China official micro blog reported that Bank of China signed agreements with 10 real estate enterprises, including Vanke, Country Garden, Longhu and Zhonghai, to provide intentional credit of more than 600 billion yuan. The favorable period to a certain extent is the atmosphere of the two cities, and the market price has risen slightly. However, the recent commencement of PVC plants has improved, and the supply has increased. However, the demand is general, and the spot market has risen slightly. Up to now, the quotation range of domestic PVC5 carbide is mostly around 5570-6400 yuan/ton.

 

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In terms of international crude oil, international crude oil futures closed higher on November 28. The settlement price of the main contract of US WTI crude oil futures was 77.24 US dollars/barrel, up 0.96 US dollars or 1.3%. The settlement price of the main contract of Brent crude oil futures was USD 83.89/barrel, up 0.18 or 0.2%. The rumors of production reduction by the Organization of Petroleum Exporting Countries (OPEC+) and its allies (OPEC+) have brought good news to the market, and the market is waiting for the results of the OPEC+meeting on December 4.

 

In terms of calcium carbide, the mainstream factory price of calcium carbide in northwest China fell first and then rose in November. The price of calcium carbide fell from 3883.33 yuan/ton on November 1 to 3750.00 yuan/ton on November 29, a decrease of 3.43%. The price at the end of the month fell by 28.34% year-on-year. In the future: in the first ten days of December, the carbide market may fall slightly, mainly finishing. The price of upstream raw material blue charcoal has fallen slightly recently, and the cost of calcium carbide is insufficient. However, the market of 1,4 butanediol and PVC in the downstream fell sharply, and the downstream demand weakened. In the future, it is predicted that carbide prices in northwest China will fall slightly in mid to early December, mainly due to consolidation.

 

3、 Future market forecast

 

PVC analysts from the business agency believe that the PVC spot market price has been in a narrow range this month. The trillion yuan of state-owned large banks has been used to help the real estate industry. To some extent, the atmosphere of the two cities is favorable. However, at present, the commencement of PVC plants has improved, the supply has increased, and the negative and positive effects are intertwined. It is expected that the PVC market will continue to operate in a narrow range in the short term.

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According to the bulk list data of business cooperatives, the average price of domestic industrial lithium hydroxide enterprises was 580000.00 yuan/ton as of November 28, up 11.90% compared with November 1, 22.11% year-on-year in a three-month cycle, and 235.26% year-on-year.

 

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The domestic lithium hydroxide market rose in November. From the perspective of cost: the upstream spodumene price is high this month, while the upstream lithium carbonate price stops rising and dips. The cost is still supported by lithium hydroxide, but the market is cautious. From the perspective of supply and demand: in the first half of the month, enterprises mainly delivered long orders, and the market was short of spot supplies. Downstream enterprises increased production scheduling, and the focus of market negotiations moved up. In the second half of the month, the normal production of enterprises was dominant, the demand side was average, the spot transactions on the market were just needed, and the focus of negotiation was stable.

 

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In terms of upstream lithium carbonate, according to the price monitoring of the business community, the price of industrial lithium carbonate will rise first and then fall in November 2022. On November 28, the reference price of lithium carbonate industrial grade will be 579000.00, an increase of 2.66% compared with November 1 (564000.00).

 

The lithium hydroxide analysts of the business community believe that the cost support still exists at present, the spot transactions in the market are just needed, and the game is mainly wait-and-see. It is expected that in the short term, the domestic lithium hydroxide market will be mainly stable, and more attention should be paid to the market news guidance.

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The domestic cobalt price will fall in 2022

 

According to the data monitoring of the business community, as of November 25, the average domestic cobalt price was 343100 yuan/ton, down 30.32% from 492400 yuan/ton on January 1. In 2022, the domestic cobalt price will fall sharply.

 

According to the rise and fall data of the lithium battery industry sector of the business community, the prices of products in the lithium battery sector, except for metal cobalt, will rise sharply in 2022. In general, the bull market of the lithium battery sector will rise sharply in 2022, while the bear market of metal cobalt will fall sharply. Cobalt, like a bear, has entered the hot bull market of lithium batteries. Why there is the market of Niulixiong Cobalt? Let’s analyze it in detail.

 

Use and proportion of cobalt

 

It can be seen from the chart of cobalt use and proportion that the main use of cobalt in China is 3C lithium battery and power battery. Next, we will mainly analyze why lithium batteries are so good and how the cobalt market becomes a bear based on these two usage trends?

 

The bull market of lithium battery sector will remain in 2022

 

The sales volume of new energy vehicles will soar in 2022

 

According to the data released by the China Automobile Association, from January to October 2022, the production and sales of new energy vehicles in China will be 5.485 million and 5.28 million respectively, with a year-on-year growth of 1.1 times. The production and sales of new energy vehicles and power batteries have soared. The bull market in the new energy vehicle industry has continued, and there is sufficient momentum for the growth of lithium battery related products.

 

Lithium ion battery production will continue to rise in 2022

 

It can be seen from the statistical chart of lithium-ion battery output that from January to October 2022, the total output of lithium-ion batteries will be 19467.98 million, up 1.1% year on year. Although the growth rate of lithium ion battery production slowed down, it was still in the rising range. The overall bull market of lithium battery related industries remained, and the growth support of lithium battery related products remained.

 

In 2022, the cobalt market is weak

 

Domestic mobile phone production in 2022

 

According to the data released by the International Bureau of Statistics, from January to October 2022, China’s mobile phone production totaled 1303.495 million units, up 0.7% year on year. In 2022, although the domestic mobile phone production increased slightly, the overall mobile phone market consumption remained weak. The sales of smart phones in China fell by 35% on a year-on-year basis during the Double 11. The mobile phone industry as a whole was under pressure, and there was obvious negative impact on the demand for cobalt market.

 

Output of power battery in 2022

 

It can be seen from the comparison chart of power battery that the output of power battery will increase significantly in 2022, but the output of ternary battery will be dominated by lithium iron phosphate battery, and the market share of ternary battery will shrink significantly. Moreover, the promotion impact of ternary battery with high nickel and low cobalt will also reduce the cobalt demand expectation. The consumption of cobalt per ton of ternary battery precursor will drop from 0.21 ton of NCM111 to 0.06 ton of NCM811. Although the output of ternary batteries has doubled, the consumption of cobalt per ton of ternary batteries has dropped significantly, and the demand for cobalt from ternary batteries is expected to drop significantly, which is bad for the cobalt market.

 

Analysis of cobalt market

 

In 2022, the bullish market of lithium battery sector rose, but it did not bring good support to the cobalt market. The impact of industry dividends on the cobalt market may be close to zero. As cobalt and cobalt salt can be transformed into each other, and the trend of cobalt and cobalt salt is positively correlated with each other, the future trend of cobalt price should be analyzed from the perspective of supply and demand of cobalt and cobalt salt.

 

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Relatively high cobalt price in 2022

 

It can be seen from the annual comparison chart of cobalt price that in 2022, the cobalt price will fluctuate and fall, but the cobalt price is still at a relatively high level compared with the same period of previous years. Under the condition that the cost of cobalt mining and smelting is basically unchanged, the cobalt market still has profit space. The main reason for the decline of cobalt price in 2022 is the expected decline in demand, the process of removing the water from speculative funds in the cobalt market, the basic maintenance of the balance between supply and demand in the cobalt market, and the limited downward pressure due to insufficient room for the rise of cobalt price.

 

Cobalt salt prices fluctuated and fell. Cobalt market was not good enough

 

It can be seen from the cobalt salt price trend chart that in 2022, the main cobalt salt prices will fluctuate and fall. Cobalt salt is mainly used to produce lithium batteries, and the supply and demand market of lithium batteries will determine the cobalt salt price trend. The price of lithium cobalate has slightly warmed up since September, which is largely related to the increase of mobile phone production in October. However, the mobile phone consumption fell sharply during the Double 11 Festival, and lithium cobalate lost its support for growth. Lithium cobalate did not drive the price of other upstream cobalt salt products to rise, while the price of lithium cobalate stabilized, and other cobalt salts also lost their support for growth. It is expected that the price of cobalt salt will stabilize in the future, which is insufficient for the good support of the cobalt market.

 

The import of cobalt raw materials rose, and the supply of cobalt market was sufficient

 

It can be seen from the data released by the General Administration of Customs that in 2022, the import of cobalt raw materials will accumulate 84900 metal tons, a year-on-year increase of 15.2%. The import volume of cobalt raw materials rose, the supply of cobalt market was sufficient, and the cobalt price was negative.

 

The installed capacity of ternary battery is stabilizing, and the demand of cobalt market is bad

 

It can be seen from the figure of installed capacity of power battery that in 2022, the installed capacity of power battery will continue to rise, and the overall installed capacity will double, but the installed capacity of ternary battery will grow slowly. Since the second half of 2022, the installed capacity of ternary battery has seen a negative growth on a month on month basis, and the installed capacity of ternary battery will become stable. Due to the high cost of ternary batteries, they are mainly used for high-end models of new energy vehicles, while the consumption of high-end models is growing slowly. The consumption of ternary batteries in the future may not grow at a high speed, and the demand in cobalt market is expected to increase.

 

Future outlook

 

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In 2022, the cobalt price will fall sharply, but there is still profit space in the cobalt market. The cobalt market tends to be rational, and the era of huge profits in the cobalt market may not return. The future cobalt price trend is determined by cost factors and the relative relationship between supply and demand.

 

In terms of cost and supply, cobalt raw materials mainly rely on imports, and the importing countries are concentrated in the Democratic Republic of the Congo and Australia, while the transportation is mainly through the ports of South Africa. In the case of difficult technological innovation, the cost of cobalt raw materials is mainly affected by the policies and regulations of the raw material supplying countries and the transportation cost. At the same time, these two factors also affect the supply of cobalt raw materials. However, the impact of policies and transportation is mostly force majeure, which mainly affects the short-term trend of cobalt price.

 

In terms of demand, the consumption of new energy vehicles continues to grow significantly, but the growth of ternary batteries is slow. With the promotion and application of low cobalt high nickel batteries and cobalt free batteries, the demand of cobalt market will be further squeezed; The mobile phone market is still weak. Although the 5G era has not ushered in a wave of replacement, the battery capacity of 5G mobile phones is 10-15% higher than that of 4G mobile phones, driving the growth of cobalt demand. Overall cobalt market demand may enter a stable growth period.

 

Bai Jiaxin, a data analyst from the business community, believes that in 2022, the cobalt price will not return in the shock and fall. Both supply and demand in the future cobalt market will grow steadily, and the cobalt market will lose the support of the sharp rise and fall; With the cost support unchanged, the supply and demand of the cobalt market are expected to be relatively balanced, and the cobalt market may become stable in 2023. In 2023, we should focus on the policies and regulations of DRC and the port transportation of South Africa.

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Ethylene glycol price bottom support strengthened

 

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According to the data from the business community, the average price of domestic oil to ethylene glycol was 3983.33 yuan/ton on November 24, up 0.63% from the previous trading day. In terms of futures, the 24 day main contract eg2301 closed at 3933 yuan/ton, up 3.15% daily.

 

On November 24, the spot price of ethylene glycol in East China market was weak and stable, and the external quotation of mainstream manufacturers in East China was basically stable, with the spot price of 3850 yuan/ton; At the trade flow end, the spot negotiation price of Zhangjiagang market rose slightly compared with yesterday, with a range of 50 yuan/ton. The spot negotiation price of the week of the 24th was around 3850 yuan/ton, and the forward spot contract was about 3875 yuan/ton in December. The MEG shipment volume of the two mainstream reservoirs in Taicang was about 3200 tons, a year-on-year decrease of 28.89% and a month on month increase of 3.23%.

 

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On November 24, the external quotation of the mainstream ethylene glycol manufacturers in the South China market was basically flat, with the spot price of 4000 yuan/ton, and the downstream just needs to purchase mainly.

 

The recent market trend is good, mainly based on the following factors:

 

1. On the news side of unplanned maintenance, the unplanned maintenance of ethylene glycol increased due to the large loss of domestic production profits. At present, the overall operating rate remains at a low level, while overseas operations are also low under the influence of poor efficiency.

 

2. The price of ethylene glycol dropped to a low level. At present, the price of ethylene glycol is relatively low, and the cost support is strengthened.

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Recently, the price trend of refining steam and diesel oil has declined. As of the 23rd, the domestic price of 92 # gasoline was 8134.6 yuan/ton, down 0.45% from the 10th; The domestic price of 0 # diesel oil was 8786.8 yuan/ton, down 3.0% from the price on the 10th. On the one hand, the demand was low, and on the other hand, the price of crude oil was low.

 

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Comparison Chart of Domestic Gasoline and Diesel Prices

 

In terms of gasoline: the recent epidemic situation has spread in many places, the enthusiasm of the middle and lower reaches to enter the market has been greatly frustrated, the travel of residents has decreased, the demand for gasoline has been sluggish, and the market price has continued to decline. The operating rate of refineries remained at about 65%, and the supply side was normal. The local refineries were relatively abundant in resource supply. In addition, the gasoline inventory rose, the operators’ intention to enter the market was reduced, the market atmosphere was light, and the gasoline price was weak and low.

 

In terms of diesel oil: with the decline of temperature, the operating rate of large-scale industrial and mining infrastructure and other industries has declined. At the same time, the northern autumn harvest has ended, and agricultural oil consumption has decreased. Although the export volume is still guaranteed, with the gradual recovery of domestic refinery output, the tension in resource supply has eased slightly, and the trend of diesel market has declined.

 

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In terms of crude oil: after the middle of November, the international crude oil price fell sharply. As of the 22nd, the settlement price of the main contract of the WTI crude oil futures in the United States was 80.95 dollars/barrel, and the settlement price of the main contract of Brent crude oil futures was 88.36 dollars/barrel. The Federal Reserve hinted that the interest rate increase is far from over and is not close to the end of monetary tightening. At present, the interest rate increase of the Federal Reserve has limited impact on inflation, which is not enough to reduce inflation. The Federal Reserve may need to take more tightening measures to curb inflation in the future, which will affect the decline of crude oil prices. The Organization of Petroleum Exporting Countries and its allies (OPEC+) once again lowered the growth expectation of global crude oil demand in 2022. With the risk of global economic recession intensifying, the future slowdown of demand growth is a certainty, and fuel demand will also face pressure. The slowing demand of China, the largest oil importer, also caused widespread concern among investors, and the oil market fell sharply. In addition, the overall economy is weak, and the prospect of energy demand is still not optimistic. The economic weakness depresses oil prices. On the whole, the crude oil price has declined, and the domestic refined oil market has been affected.

 

Future market forecast: Chen Ling, an oil product analyst from the business community, believes that the realization of international oil prices is weak, and the cost has negative impact. There is no positive factor to boost the gasoline industry, and travel in some regions is limited. The demand for gasoline is poor, and there is still a risk of price decline. At present, the downstream has increased their resistance to high priced resources, the operating rate of large industrial and mining infrastructure and other industries is expected to decline, the demand for diesel oil has declined, and the price of diesel oil market has dropped slightly in the later period.

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According to the monitoring of the business community, the average price of the domestic PTA spot market on November 22 was 5643 yuan/ton, down 0.86% from the previous day and up 17.84% year on year. The PTA new device is about to be launched, the cost is weakening, and the demand is poor. With the addition of bad news, the PTA price maintains a downward pattern.

 

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On the supply side, the load of PTA large plants has been reduced and new units have been put into production late, but the improvement of processing fees will drive the production willingness to rise, and the current industry operating rate remains above 74%. In addition, PTA’s new capacity is about to be tested, and the accumulated warehouse is expected to rise.

 

In the crude oil market, the international crude oil futures fell on November 21. The settlement price of the main contract of the U.S. WTI crude oil futures was 80.04 dollars/barrel, and the settlement price of the main contract of Brent crude oil futures was 87.45 dollars/barrel. Yesterday, some media reported that OPEC+in oil producing countries may increase production substantially, and the oil price once plummeted by 5%. Then Saudi Arabia denied this rumor and made a strong voice that it might further reduce production. The oil market reversed dramatically, taking back most of the losses of the day.

 

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The peak of the Double 11th Festival has passed, and the terminal textile and clothing consumption is again weak. The turnover of the Light Textile City is at a seasonal low, and the inventory of grey cloth and yarn is high. Some weaving factories have been closed for holidays or stopped in succession, and the operating rate has shown a downward trend of shock. The comprehensive operating rate of Jiangsu and Zhejiang looms has dropped to around 56%.

 

Analysts from the business community believe that at present, most PTA devices in China have completed annual maintenance, the pressure for new devices to be put into production is not reduced, and the starting load will continue to rise. In the near future, the cost side crude oil and PX have weakened, and the price support for PTA is correspondingly weak. Weak demand is a drag, and it is difficult to see significant improvement within the year. Therefore, on the whole, PTA prices are still expected to weaken.

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1、 Price data

 

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According to the data of the bulk list of business cooperatives, the price of petroleum coke of local refiners fluctuated this week. On November 20, the average price of Shandong market was 3876.50 yuan/ton, which was stable compared with that on November 14.

 

On November 20, the petroleum coke commodity index was 301.51, unchanged from yesterday, 26.23% lower than the cycle’s highest point of 408.70 (2022-05-11), and 350.75% higher than the lowest point of 66.89 on March 28, 2016. (Note: the cycle refers to the period from September 30, 2012 to now)

 

2、 Analysis of influencing factors

 

The price of petroleum coke in the refinery was flat this week. At present, the inventory of the refinery is at a low level. The downstream demand is good and the transaction is good.

 

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Upstream: The international crude oil price fell in shock, and the Federal Reserve suggested that the interest rate increase was far from over, and it was not close to the end of monetary tightening. At present, the interest rate increase of the Federal Reserve has limited impact on inflation, which is not enough to reduce inflation. The Federal Reserve may need to take more tightening measures to curb inflation in the future, which will affect the decline of crude oil prices. The Organization of Petroleum Exporting Countries and its allies (OPEC+) once again lowered the growth expectation of global crude oil demand in 2022. With the risk of global economic recession intensifying, the future slowdown of demand growth is a certainty, and fuel demand will also face pressure. The slowing demand of China, the largest oil importer, also caused widespread concern among investors, and the oil market fell sharply. In addition, the overall economy is weak, and the prospect of energy demand is still not optimistic. The economic weakness depresses oil prices.

 

Downstream: the price of calcined coke was basically stable this week; The price of metal silicon market declines; The price of electrolytic aluminum in the downstream rose in a volatile way. As of November 20, the price was 19273.33 yuan/ton; Downstream carbon enterprises have good purchasing enthusiasm.

 

The oil coke analyst of the business agency believes that: this week, the international crude oil shocks and declines, and the cost support of oil coke is limited; At present, the petroleum coke stock of local refining enterprises is at a medium low level, but the number of imported coke arriving in Hong Kong recently is large, and the petroleum coke market is sufficient. It is expected that the price of locally refined petroleum coke will decline slightly in the near future.

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1、 Price trend

 

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The price of aniline continued to fall this week, according to the data of the bulk list of business cooperatives. On November 11, the price was 13575 yuan/ton, and on November 18, the price was 10725 yuan/ton, down 20.99% from last week and 18.75% from the same period last year.

 

2、 Analysis and review

 

On the cost side, pure benzene: At the beginning of the week, due to the expected increase in downstream styrene exports, the market strengthened, driving the increase in pure benzene negotiations, and the price rose with it. However, due to the overall poor profitability of downstream products, the market trend continues to be weak, and the demand for pure benzene is weak. The crude oil fell continuously in the second half of the week. The market atmosphere was depressed by bad news, and the price fell back. On Friday (November 18), the price of pure benzene was 6967 yuan/ton, down 0.12% from last week and 1.31% from the same period last year.

 

Nitric acid: The domestic nitric acid price is stable this week. The price was 2400 yuan/ton on November 11 and 2400 yuan/ton on November 18. The price was flat last week, down 13.25% from the same period last year.

 

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Due to the poor purchasing enthusiasm in the downstream, the aniline factory has accumulated inventory; In addition, the planned maintenance of Shanghai Lianheng reduced the demand for aniline, increased the export volume of aniline, and increased the spot supply in the market. The pressure of supply and demand has increased, and the prices of enterprises have been lowered widely to promote shipment.

 

3、 Future market expectation

 

The support of raw materials is insufficient, the pressure of supply and demand of aniline increases, and the price may continue to decline. Continue to pay attention to the trend of raw materials, the dynamics of aniline device and the downstream picking mood.

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1、 Price trend

 

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According to the monitoring data of the business community, the average factory price of domestic ammonium sulfate was 1450 yuan/ton on November 11, and 1420 yuan/ton on November 17. The price of ammonium sulfate fell 2.07% this week.

 

2、 Market analysis

 

This week, the price of ammonium sulfate decreased slightly, and the market was stable. Downstream procurement is mainly based on demand, the on-site turnover is fair, and the export demand continues to follow up. The operating rate of coking plant and caprolactam plant decreased, and the supply of ammonium sulfate in the plant decreased. As of November 14, the price of coking grade ammonium sulfate and mainstream ammonium sulfate in Shandong Province was about 1400 yuan/ton. The mainstream factory quotation of ammonium sulfate in Hebei is about 1400 yuan/ton. Domestic ammonium sulfate, the mainstream factory quotation in Shandong is 1360-1490 yuan/ton.

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The downstream compound fertilizer market was stable this week, and the enthusiasm of the market increased. The raw materials continue to grow, the pressure on the cost of compound fertilizer increases, and the manufacturers mainly pay high prices. Supported by raw materials, the domestic compound fertilizer market is running well, and the winter storage market is steadily following up.

 

3、 Future market forecast

 

Ammonium sulfate analysts from the business community believe that the current market situation of ammonium sulfate is stable and small, the market supply is tight, and the trading volume is fair. Under the condition of stable demand, it is expected that the price of ammonium sulfate will fluctuate in a narrow range in the short term.

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