Price: 3116 Yuan/ton
Analysis: On March 20th, the price of ammonia in Shandong region rose, according to the commodity market analysis system by the Business Sheets. The daily increase in Shandong was 4.82%. The main reason is that this week, some units in Shandong and Henan were shut down for maintenance, which led to a contraction in supply and brought positive news to the market, causing it to rise sharply. On Wednesday, prices in Shandong and surrounding areas such as Hebei and Henan were generally increased by 100-200 Yuan/ton. The market atmosphere was strong, with dealers following up. However, downstream demand has not yet improved significantly, agricultural demand is still in an empty period, industrial demand remains essential, and the rise mainly comes from bullish incentives from suppliers. Currently, mainstream prices in Shandong region are between 3000-3200 Yuan/ton. Forecast: It is expected that northern ammonia enterprises may have resumed work soon, and the supply tightness situation may change later on. Coupled with the fact that the downstream agricultural peak season has not yet arrived, cautiously view the future market situation. It is predicted that the upward momentum of ammonia in the future may not be sustained, and there may be a possibility of a price reversal.
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