Latest price (November 17th): 4,333 RMB/ton
Analysis review
On November 17th, liquid ammonia in Shandong continued its upward trend the previous day. According to the Commodity Market Analysis System of SunSirs, the daily increase in the main production area of Shandong was 1.56%.
The main reason was the tightening of supply performance. The market was mainly affected by factory device failures and partial sales stoppages, resulting in a shortage of goods in the market and a shortage of supply. On Friday, major factories in Shandong and surrounding Hebei generally raised prices by 50-100 RMB/ton. The dealer's offers kept following up. In addition, the atmosphere of speculation in the downstream urea market remained strong, and spot prices also showed strong performance. The demand for compound fertilizers only increased without decreasing. Both supply and demand were favorable for the domestic ammonia market. As of November 17th, the mainstream quotation in Shandong region was between 4,200-4,350 RMB/ton.
Market outlook
It is expected that the recovery rate of liquid ammonia plants in northern China will be slow in the near future, the inventory pressure of enterprises will not be high, and liquid ammonia may still hover at a high level.
