1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average price of domestic ammonium sulfate market on April 1st was 756 yuan/ton, and on April 7th, the average price of domestic ammonium sulfate market was 773 yuan/ton. This week, the price of domestic ammonium sulfate market increased by 2.20%.

2、 Market analysis

This week, the domestic ammonium sulfate market price has stopped falling and risen. Due to the continuous decline in ammonium sulfate prices in the early stage, the market’s bottoming out mentality has increased, and the trading atmosphere has improved, resulting in an increase in the bidding price of ammonium sulfate. However, terminal demand remains weak, and downstream purchases are made on demand. This week, urea prices continue to weaken, with bearish factors still present. As of April 7th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 730 yuan/ton. The mainstream ex factory quotation for ammonium sulfate in Shandong region is around 770-790 yuan/ton.

3、 Future Market Forecast

According to analysts from Business Society, the price of ammonium sulfate has rebounded and risen recently. The demand side is still sluggish, coupled with the poor urea market, the rebound space of the ammonium sulfate market is limited. It is expected that in the short term, the domestic ammonium sulfate price will mainly consolidate and operate within a narrow range.

This week (3.29-4.3), according to the Commodity Analysis System of Business Society, the average price quoted by domestic industrial grade 98% calcium formate enterprises is 3807.00 yuan/ton, which is 75 yuan/ton higher than the reference price of 3732.00 yuan/ton on March 30th, with a 2.01% increase.

Trend of raw material formic acid:

There are two main reasons for the rise in the calcium formate market. On the one hand, the raw material formic acid was bullish in the early stage. According to the commodity market analysis system of Business Society, as of March 27th, the average price quoted by formic acid enterprises was 3300.00 yuan/ton, which is 4.76% higher than the price on March 1st (formic acid reference price is 3150.00 yuan/ton). This puts significant cost pressure on calcium formate producers; On the other hand, the overall stock on the supply side is insufficient and supply is tight, and some manufacturers are still in the stage of arranging orders and shipping. However, overall, the demand side is mostly for rigid procurement, which is at a conventional level and has limited room for growth.

Future Market Forecast:

In the short term, the domestic price of calcium formate may show a consolidation trend and maintain stable operation.

Recently, the price of hexafluoropropylene in the market has remained stable, and downstream procurement attitudes are not positive, so there is currently no good news. According to the data monitoring system of Shengyishe, as of April 2nd, the benchmark price of hexafluoropropylene in Shengyishe was 36375.00 yuan/ton, unchanged from the beginning of this month.

Raw material side: Recently, the domestic price trend of anhydrous hydrofluoric acid has increased significantly. As of the 2nd day, the market price of hydrofluoric acid was 11166.67 yuan/ton, an increase of 12.04% from the price of 9966.67 yuan/ton on March 21, and a year-on-year increase of 13.95%. In the past half month, the price trend of domestic fluorite has increased. As of the 2nd, the average price of domestic fluorite was 3525 yuan/ton, with a price increase of 5.03%.

The downstream demand is not active, with on-demand procurement being the main focus, and the atmosphere of inquiry and signing is cold.

Business Society’s hexafluoropropylene analyst predicts that due to the recent high cost support of hexafluoropropylene, downstream demand is not active, and on-demand procurement is affected, it is expected that the hexafluoropropylene market will remain strong in the near future. More attention should be paid to market news guidelines.

Price: 3073 yuan/ton

Analysis: On April 1st, the liquid ammonia market in Shandong region experienced a significant decline. According to the Commodity Market Analysis System of Business Society, the daily decline in the main production area of Shandong was 7.52%. The main reason is the resumption of work on some of the equipment that underwent troubleshooting in the early stage, resulting in a loose supply performance. Coupled with changes in downstream urea units, ammonia conversion is more common, leading to a short-term surge in ammonia production. Last weekend, along with today, a large factory in Shandong lowered prices by nearly 300 yuan/ton. On Monday, dealers mostly reported lower prices, resulting in sluggish sales. Moreover, downstream procurement enthusiasm is not high, urea remains weak, prices continue to decline, agricultural demand gap has not passed, industrial demand remains rigid, and the sluggish demand side has suppressed the price of liquid ammonia. At present, the mainstream quotation in Shandong region is between 2900-3100 yuan/ton.

Prediction: Downstream procurement will slow down before the Qingming Festival, with sufficient supply and no improvement in downstream demand. It is expected that liquid ammonia will remain weak in the near future, and it is not ruled out that prices may continue to decline.

According to the Commodity Market Analysis System of Business Society, the domestic aggregated MDI market fluctuated and declined in March. From March 1st to 29th, the domestic aggregated MDI market price dropped from 17050 yuan/ton to 16516 yuan/ton, with a monthly price drop of 3.13% and a year-on-year increase of 2.21%.

At the beginning of the month, the domestic aggregated MDI market experienced a weak downward trend, with limited trading atmosphere and strong trading sentiment among traders. Overall, the intention to negotiate remained strong, and market prices fell, with relatively insufficient support.

In the first half of the month, the domestic aggregated MDI market prices fell, with limited follow-up on the demand side and a less than expected buying atmosphere. The downstream end has limited resilience.

In mid month, the domestic aggregated MDI market prices first fell and then rebounded, and the follow-up atmosphere improved slightly, with transactions mainly focusing on rigid demand orders. The overall performance of downstream industries is average, and currently, they mainly consume inventory.

As the end of the month approaches, the domestic aggregated MDI market is experiencing a weak downward trend in prices, with poor support and relatively average follow-up on new orders. The driving force on the demand side is lower than expected, social inventory is released, traders have a pessimistic mentality, and the market situation continues to weaken.

The supply side is affected by favorable factors such as reduced supply from production enterprises.

On the cost side, raw material pure benzene: Some pure benzene traders are bearish in the future and actively sell their holdings, resulting in an increase in market commodity volume and weakened buying sentiment, with average transactions. As of March 29th, the benchmark price of pure benzene in Shengyishe is 8457.17 yuan/ton. Raw material aniline: The aniline market continued to rise in March, and as of March 29th, the benchmark price of Shangyishe aniline was 11655.00 yuan/ton. The cost impact of short-term aggregated MDI is mixed.

On the demand side, downstream demand has recovered less than expected, and there is still room for lower priced stocks. Currently, the purchasing enthusiasm of small and medium-sized factories is not good. The short-term demand side support is still limited, and we will follow up on urgent orders. Except for the cold industry, the start-up of other industries is not yet obvious, and the cautious atmosphere is still strong, with overall slow follow-up being the main focus. The short-term aggregate MDI demand side is temporarily affected by bearish factors.

In the future market forecast, with the price falling, the overall follow-up momentum is still average. However, considering that the price has fallen into the pre holiday low point, the overall attention will increase. Business Society’s aggregated MDI analyst predicts that the domestic aggregated MDI market will mainly consolidate.