Strong market demand in September drove up domestic ammonium sulfate prices (September 2026)

1. Key Market Highlights This Month

1. After the September 15 transition period for statutory inspection, non-self-regulated enterprises ceased inspection filings; however, exports of goods with customs vouchers continued.
2. September is the peak season for granular demand. Combined with limited remaining quotas for self-regulated enterprises, factories adopted a bullish stance and held back sales.

2. Monthly Review of the Domestic Ammonium Sulfate Market

As of the 29th, mainstream reference prices for coking-grade ammonium sulfate were 1,016 RMB/ton in Shandong, 939 RMB/ton in Shanxi, and 987 RMB/ton in Henan. These represent month-on-month changes of +9.6%, +9.7%, and +11.02%, respectively.

Table 1: Comparison of Price Changes for Coking-Grade Ammonium Sulfate in Major Domestic Production Regions (Unit: RMB/ton)

Source: Chempricehub Information

The domestic ammonium sulfate market trended upward steadily this month. In early September, procurement sentiment briefly cooled as non-self-regulated granular plants anticipated the end of the statutory inspection transition period on September 15 and subsequent cessation of inspection filings. Although international demand for crystalline caprolactam-grade ammonium sulfate was weak, upstream feedstock plants maintained low operating rates due to limited remaining self-regulation quotas. With no pressure to sell inventory, factories aimed to push prices higher. In late September, policy clarity remained elusive. While some non-self-regulated granular plants stopped filing for inspections, they could still export goods using customs vouchers. Strong international demand drove simultaneous price increases across ammonium sulfate by-products from different processes.

3. Analysis of Related Product Markets

In September, the ammonium sulfate market was heavily influenced by policy, leading to frequent shifts in market sentiment. On the supply side, operating rates for caprolactam and coking plants showed a tendency to increase due to improved product margins, though actual growth in utilization was limited. On the demand side, it was the peak season for Brazilian granular demand. International urea prices remained elevated due to Middle Eastern geopolitical tensions, increasing buyers' acceptance of terminal prices for ammonium sulfate. Brazil granular CFR prices stabilized with an upward bias, with most transactions concentrated in the 240–250 USD/ton CFR range by month-end. Domestic granular plants had sufficient orders; although raw material costs rose, profit margins remained acceptable, resulting in active overall procurement sentiment. Regarding sentiment, early in the month, attitudes were generally positive as non-self-regulated enterprises could still file for inspections in an orderly manner. Mid-month, as the transition deadline approached, procurement sentiment among non-self-regulated enterprises turned cautious, causing short-term declines in auction prices for coking-grade ammonium sulfate. However, in late September, despite unclear policies, non-self-regulated enterprises could still declare exports using customs vouchers. Supported by favorable international conditions, procurement sentiment became aggressive again.

4. Market Outlook

The ammonium sulfate market is expected to see slight upward momentum in October. Positive factors include sustained support from international demand and the fact that the second batch of self-regulation quotas has not yet been allocated, suggesting total export volumes may remain constrained. Consequently, factories may continue to aim for price hikes. However, attention must be paid to policy guidance, as a divergence between domestic and foreign trade prices at upstream plants may emerge. For more detailed monthly market analysis, please refer to the Chempricehub Ammonium Sulfate Monthly Report.