① International urea prices remained stable, while end-user acceptance of ammonium sulfate was limited.
② Caprolactam operating rate stood at 70.79%. Independent coke plant operating rate was 71.12%.
Table 1: Domestic Ammonium Sulfate Price Summary (Unit: RMB/ton)
| Market | Specification | Nov 3 | Nov 4 | Change | Change % |
|---|---|---|---|---|---|
| Shandong | Coking-grade | 1145-1190 | 1107-1145 | -38/-45 | -3.32%/-3.78% |
| Shanxi | Coking-grade | 1065-1142 | 975-1060 | -90/-82 | -8.45%/-7.18% |
| Handan | Coking-grade | 1135-1175 | 1100-1140 | -35/-35 | -3.08%/-2.98% |
| Henan | Coking-grade | 1050-1145 | 1060-1140 | +10/-5 | +0.95%/-0.44% |
| Northwest | Coking-grade | 940-1010 | 876-980 | -64/-30 | -6.81%/-2.97% |
| Northeast | Coking-grade | 900-1163 | 900-1163 | 0/0 | 0.00%/0.00% |
| Shandong | Caprolactam-grade | 1230-1250 | 1230-1250 | 0/0 | 0.00%/0.00% |
| Shanxi | Caprolactam-grade | 1200-1200 | 1200-1200 | 0/0 | 0.00%/0.00% |
| Key Downstream | |||||
| Shandong | Compound Fertilizer 45%S(3*15) | 3280 | 3280 | 0 | 0.00% |
Based on coking-grade ammonium sulfate in the Shandong region, the transaction price was executed at 1,126 RMB/ton, a decrease of 41.5 RMB/ton. This week, coking-grade ammonium sulfate prices generally declined due to weak demand.
Currently, caprolactam plant loads are undergoing minor adjustments, with an operating rate of 70.03%. The operating rate for independent coke plants is 71.36%. The capacity utilization rate for domestic compound fertilizer enterprises is 25.97%.
The ammonium sulfate market trended downward today. Weak international conditions led to poor actual transactions. Following previous sustained increases in raw material prices, profit margins across the upstream and downstream sectors have compressed, causing procurement sentiment to cool recently. It is expected that the ammonium sulfate market will continue to decline in the short term.
Urea: Today, the domestic urea market was influenced by on-site news. Futures opened higher, boosting trading sentiment and leading spot quotations to rise slightly. However, demand-side support remains limited as agricultural needs are nearing the end of the season. Industrial rigid demand from sectors such as compound fertilizers and wood panels is largely maintaining restocking based on immediate needs. Actual market transactions remain moderate, with downstream buyers cautious and predominantly in wait-and-see mode. Industry operating rates remain high, ensuring sufficient supply. Positive factors are mostly at the expectation level, lacking substantial large-order deals for support, which limits manufacturers' ability to hold prices firm; thus, transactions at higher price levels are sluggish. In the short term, urea prices may continue to fluctuate within a range. Market trends still require close tracking of export tender results and the pace of winter stockpiling preparations.
Table 2: Domestic Ammonium Sulfate Data Overview (Unit: 10,000 tons)
| Data Indicator | Release Time | Previous Period Data | Current Period Trend Forecast |
|---|---|---|---|
| Coke Plant Capacity Utilization Rate | Friday 17:00 AM | 71.12% | -- |
| Caprolactam Capacity Utilization Rate | Thursday 17:00 PM | 70.79% | -- |
| Compound Fertilizer Capacity Utilization Rate | Thursday 17:00 PM | 25.90% | -- |
Source: Chempricehub Information
Notes:
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