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.
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