Price Trend

According to the data of business associations, the domestic ammonium sulfate market rose in mid-September. The average price of domestic ammonium sulphate was 623 yuan/ton on September 10, and 636 yuan/ton on September 20, with a price increase of 2.14%. On September 20, the ammonium sulfate commodity index was 53.28, down 49.87% from the peak of 106.28 points in the cycle (2012-05-24), and up 45.38% from the low of 36.65 points on June 23, 2014. (Note: Period refers to 2011-09-01 to date)

II. Market Analysis

Products: Central China mainstream ammonium sulfate factory quoted 710 yuan/ton, Henan mainstream ammonium sulfate factory quoted 600-700 yuan/ton, Hebei mainstream ammonium sulfate factory quoted 600-800 yuan/ton, East China mainstream ammonium sulfate factory quoted 650-690, North China mainstream ammonium sulfate factory quoted 610-720. As of September 20, domestic coking grade ammonium sulfate rose slightly. Before the Mid-Autumn Festival, merchants actively shipped ammonium sulfate. After the festival, prices remained stable. Demand for ammonium sulfate at the internal level is stagnant and the range oscillates.

Industry chain: According to the price monitoring of business associations, the distribution price of sulphuric acid in Shandong Province was temporarily stable in mid-September. The price is 223.33 yuan/ton, down 52.73% from the same period last year. Overall, the sulfuric acid market was low and consolidated. The downstream compound fertilizer enterprises have started construction stably in the near future, and the market continues to be weak and weak. Compound fertilizer enterprises as a whole are flat, with large inventory, and some enterprises plan to overhaul. The wheat fertilizer is coming to an end, and the situation of fertilizer preparation this year is not very optimistic.

Industry: According to the price monitoring of business associations, in the 37 th week of 2019 (9.16-9.20), there were 41 kinds of commodities rising annually in the chemical sector, 11 of which increased by more than 5%, accounting for 13.1% of the monitored commodities in the sector; the first three commodities were hydrochloric acid (157.14%), caustic soda (18.47%) and acetone (13.86%). There are 17 kinds of commodities with a decline of more than 5%, accounting for 1.2% of the monitored commodities in this sector. The products with the first three declines are dichloromethane (-5.19%), trichloromethane (-4.17%) and sulfuric acid (-2.98%). This week’s average rise and fall was 3.64%.

3. Future Market Forecast

Ammonium sulfate analysts believe that the domestic ammonium sulfate Market as a whole is cold, downstream demand is sluggish, inventory pressure is increasing, and terminal follow-up is insufficient. Although there was a slight increase before the festival and a sluggish rise after the festival, the overall range of ammonium sulfate is expected to be the main shock in the later period.