Price: 3116 yuan/ton
Analysis: On March 20th, the liquid ammonia market in Shandong region rose. According to the Commodity Market Analysis System of Shengyishe, the daily increase in the main production area of Shandong was 4.82%. The main reason for this week’s maintenance of some equipment failures in the main production areas of Shandong, Henan, and other regions has led to a contraction in the supply side, which has brought positive news and a rise in market prices. On Wednesday, major factories in Shandong and surrounding Hebei and Henan provinces generally raised prices by 100-200 yuan/ton. The market atmosphere is strong, and dealer quotes are rising. However, there has not been a significant improvement in downstream demand, and agricultural demand is still in a gap period. Industrial demand remains strong, and the increase is mainly driven by positive supply side factors. At present, the mainstream quotation in Shandong region is between 3000-3200 yuan/ton.
Prediction: It is expected that northern liquid ammonia enterprises may resume work in the short term, and the tight supply pattern may improve in the later stage. Coupled with the fact that the downstream agricultural peak season has not yet arrived, we are cautious about the future market situation. It is expected that the upward trend of liquid ammonia in the later stage may be difficult to maintain, and the possibility of price reversal cannot be ruled out.
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