On February 10, the price trend of ammonium nitrate in the Shandong region remained temporarily stable, with mainstream negotiations in the market ranging from 3,200 to 3,300 yuan per ton. Production operations among market participants were stable. Recently, the market prices of upstream raw materials experienced a slight decline, while the supply of goods in the market remained normal. Downstream procurement activity was moderate, leading to a volatile trend in the ammonium nitrate market. PriceSeek analysis of ammonium nitrate, with a bullish-bearish score of -1: The decline in upstream raw material prices has led to a reduction in production costs. The supply of goods in the market remains normal and sufficient, while downstream procurement demand is moderate. These combined factors exert downward pressure on the spot price of ammonium nitrate. It is expected that prices may face a downward risk, but the current trend remains temporarily stable, with the market continuing in a volatile pattern.