On June 29, the crude benzene commodity index was 121.79, unchanged from yesterday, down 7.62% from the highest point of 131.84 in the cycle (January 28, 2013), and up 298.79% from the lowest point of 30.54 on April 8, 2020. (Note: the period refers to 2011-09-01 to now).

In June 2022, the crude benzene market fluctuated upward. The domestic ex factory price of crude benzene was 7065 yuan / ton at the beginning of the month and 7805 yuan / ton at the end of the month, with a monthly increase of 10.47%.

Summary of Sinopec pure benzene price adjustment (unit: yuan / ton)

Date, Adjusted price, Adjustment amount

June 6, 9500.,+200

June 8, 9700.,+200

June 10, 10000.,+300

June 22, 9800.,-200

June 27, 9600.,-200

The ex factory price of Sinopec pure benzene was reduced by 200 yuan / ton on June 27, 2022, and 9600 yuan / ton was implemented.

Other enterprises: Jingbo Petrochemical quote 9350 yuan / ton, HSBC Petrochemical quote 9300 yuan / ton, Weilian chemical quote 9353 yuan / ton, Xinhai Petrochemical quote 9400 yuan / ton, Hongrun Petrochemical quote 9450 yuan / ton.

Crude oil: on June 29, the price of international crude oil futures fell. The settlement price of the main contract of WTI crude oil futures in the United States was $109.78 / barrel, down $1.98 or 1.8%; The settlement price of the main contract of Brent crude oil futures was $112.45 / barrel, down $1.35 or 1.2%. The US Energy Information Administration (EIA) data was negative, and the inventory of refined oil products increased; And market concerns about the risk of a global recession weighed on oil prices.

In the first half of this month, the trend of crude oil rose as a whole. After the price fell in the second half of this month, the price rebounded slightly at the end of the month again. The trend of pure benzene basically followed the fluctuation of crude oil. In the first half of this month, supported by the upward trend of crude oil and the rising price of pure benzene, Sinopec continuously raised the ex factory price of pure benzene, boosting market confidence, local refining enterprises followed suit, and the price of pure benzene went all the way. After entering the latter ten days, crude oil and pure benzene in the outer market fell broadly, with bad fundamentals and declining support for the industrial chain. Sinopec lowered the ex factory price of pure benzene to 9600 yuan / ton for two consecutive times, and local refining enterprises also lowered the price of pure benzene one after another. At the same time, the inventory of pure benzene in East China began to increase, and there was still a plan to accumulate inventory in the follow-up. Under the influence of multiple bad news, the price of pure benzene market continued to decline, while the downstream styrene also continued to weaken, the overall performance of the market mentality was poor, and the overall decline of the industrial chain was obvious. Near the end of the month, there is a certain demand for replenishment in the lower reaches, adding to the slight rise in crude oil and outer disk pure benzene at the end of the month. As of the press release, the mainstream price of domestic pure benzene is 9300-9600 yuan / ton.

In terms of commencement: the overall commencement of coking enterprises in the first half of this month was relatively high. With the two rounds of increase in coke prices, enterprises started actively, and the tar supply was stable. In the middle and late ten days of the month, the coke was dragged down by downstream demand, and the first round of increase and decrease of 300 yuan / ton was started. After reversing the previous increase, the profit of coking enterprises was damaged, and the operating rate fell significantly as a whole. Many enterprises took the initiative to limit production, and the output of related by-products decreased accordingly.

Crude benzene was significantly affected by the industrial chain this month. As of the end of the month, the price of pure benzene and crude oil rebounded slightly. The price of pure benzene was still at a high position, and the supply side expected a certain decline in the follow-up. The construction of downstream benzene hydrogenation enterprises was relatively stable recently. Although the price fell recently, the overall price was still at a high level, the enthusiasm of enterprises to start construction was acceptable, and the demand for crude benzene remained, In the situation of slightly tight supply, it is expected that the subsequent high price oscillation of crude benzene will be dominant, but considering the downstream profits, there may be some room for downward adjustment.

1、 Price trend

According to the bulk list data of business agency, the domestic glycine price continued to decline in June. The average price of industrial glycine stabilized at 19666 yuan / ton at the beginning of the month and 18666 yuan / ton at the end of the month, with a monthly decrease of 5.06%.

2、 Analysis and comment

According to the price chart of business agency, the domestic glycine market continued to decline in June, and the market price was uncertain. As of the end of the month, the mainstream market quotation was around 18000-19000 yuan / ton. In terms of supply, the maintenance enterprises resumed driving, and the market supply returned to normal. In terms of demand, the downstream demand is general, and the orders of old customers are mainly, especially glyphosate. The demand is not as expected, and the procurement is relatively weak.

Demand: the downstream glyphosate market continued to fall slightly, and the price of glyphosate technical drug was around 65000 yuan / ton by the end of the month. The overall market is weak and stable. Due to the stable operation of foreign glyphosate devices, the domestic procurement is not as expected, the inventory in the domestic market has increased, the price has been reduced slightly, and traders are reluctant to sell, so they are cautious about the future market.

3、 Aftermarket forecast

Glycine analysts of business agency believe that, on the whole, the glycine market is mainly restricted by the downstream glyphosate market. There is no obvious positive signal in the glyphosate market, and the glycine price remains weak and stable.

1、 Price trend

According to the data monitored by the business agency, the price of PVC carbide SG5 fell this week. The average price of domestic PVC was 7996.25 yuan / ton last Thursday and 7348.75 yuan / ton this Thursday. The price fell by 8.1% in seven days.

2、 Market analysis

The domestic spot market of PVC continued to decline this week. Downstream enterprises and traders are in a strong wait-and-see mood. They are cautious in taking goods. They can take goods as they are used. Rigid demand is the main factor, and the delivery and transaction of PVC spot market is not good. Up to now, the quotation range of domestic pvc5 electric stone is mostly around 7050-7550 yuan / ton.

International crude oil. On June 29, the price of international crude oil futures fell. The settlement price of the main contract of WTI crude oil futures in the United States was $109.78 / barrel, down $1.98 or 1.8%; The settlement price of the main contract of Brent crude oil futures was $112.45 / barrel, down $1.35 or 1.2%. The US Energy Information Administration (EIA) data was negative, and the inventory of refined oil products increased; And market concerns about the risk of a global recession weighed on oil prices.

Ethylene, internationally, on June 29, the ethylene market in Asia, CFR Northeast Asia quoted us $981 / ton; CFR Southeast Asia quotation is 1101 US dollars / ton. On June 29, the US ethylene market was $561 / ton. Recently, the U.S. ethylene market rose slightly. There is sufficient spot supply of ethylene in the domestic market, which depresses the market atmosphere, and many operators wait and see.

Calcium carbide, as of the 30th, the average ex factory price of mainstream manufacturers of calcium carbide was 3800 yuan / ton. The factory price of calcium carbide manufacturers continued to fall slightly this week. The price of blue carbon in the upstream fell slightly, the cost support weakened, the PVC market in the downstream fell slightly, and the demand for calcium carbide weakened. In the future, it is predicted that the price of calcium carbide in Northwest China may fall in a narrow range in early July.

3、 Aftermarket forecast

PVC analysts of business agency believe that the spot price of PVC fell this week. At present, domestic demand is weak and market transactions are poor. The downstream is cautious in taking goods, and the operating rate is not high. However, the futures market price rose slightly today, which was good for the confidence of the spot market. It is expected that the PVC market will stabilize in the short term.

According to the monitoring data of the business agency, as of July 1, 2022, the average ex factory price of domestic industrial propylene glycol was 11866 yuan / ton, which was 934 yuan / ton lower than the price on June 26, 2022 (the ex factory reference price of propylene glycol was 12800 yuan / ton), a decrease of 7.29%.

It can be seen from the data monitoring chart of business agency that this week (6.27-7.1), the domestic propylene glycol market as a whole showed a downward trend. On June 27 at the beginning of the week, Shandong propylene glycol factory reduced the ex factory price of propylene glycol by 600 yuan / ton. The ex factory price of propylene glycol in this factory fell to about 11700 yuan / ton. Some other factories also reduced the ex factory price of propylene glycol by a narrow range of about 200 yuan / ton. Propylene glycol is operating downward as a whole. The propylene glycol market was weak in the middle of the week. The downstream demand side showed general performance. The trading atmosphere on the floor was cold and the wait-and-see mood was strong. On July 1, the propylene glycol market fell again, and some factories lowered the ex factory price of propylene glycol again by about 500 yuan / ton. As of the end of this week (July 1), the domestic ex factory price of propylene glycol was around 11000-12500 yuan / ton, with a decline of more than 7% during the week. At present, the on-site transactions are mainly negotiated, and the overall transactions of new orders are general.

The upstream propylene oxide market fell in June. In the first half of the month, the raw material propylene fell, the cost support was insufficient, the supply side was stable, the factory inventory was controllable, and the downstream reduction was followed up. The market was gradually under pressure, and the price stalemate of propylene oxide weakened. In the second half of the month, the price of raw propylene fell, factory shipments were flat, and some devices fluctuated, but the supply side was abundant, downstream demand was light, the reduction and price reduction followed up, and the purchase mentality was cautious, and the price of propylene oxide continued to decline.

Future trend analysis

At present, the trading atmosphere in the propylene glycol market is quiet, the factory mainly makes profits and ships, and the downstream demand for propylene glycol is still cautious. The propylene glycol datagrapher of business society believes that in the short term, the domestic propylene glycol market is mainly adjusted and operated in multiple ranges, and the specific trend also needs to pay more attention to the basic changes in supply and demand and the follow-up of new orders.

1、 Price data

According to the latest monitoring data of business agency, as of June 30, the mainstream ex factory average price of domestic ground refined hydrogenated naphtha was 8353.33 yuan / ton, down 0.42% from 8388.25 yuan / ton at the beginning of this month, and the overall price of ground refined hydrogenated naphtha fell.

According to the latest monitoring data of business agency, as of June 30, the mainstream ex factory average price of domestic ground refined straight run naphtha was 8147.50 yuan / ton, down 1.72% from 8290.00 yuan / ton at the beginning of this month, and the price of ground refined straight run naphtha fell as a whole.

On June 30, the naphtha commodity index was 103.10, down 0.2 points from yesterday, down 15.24% from the highest point 121.64 in the cycle (2022-03-10), and up 144.08% from the lowest point 42.24 on July 19, 2016. (Note: the period refers to 2012-09-01 to now)

2、 Analysis of influencing factors

Product: in June, the price of ground refined naphtha increased first and then decreased. At present, the mainstream price of ground refined hydrogenated naphtha is about 8200-8400 yuan / ton, and the mainstream price of straight run naphtha is about 8100-8300 yuan / ton. In June, the international crude oil fell in shock, the naphtha market was in a strong wait-and-see mood, the demand for olefins and aromatics in the naphtha terminal was weak, the market transaction was general, and the refinery shipment was positive. As of the week of June 29, Singapore’s fuel oil storage fell by 580000 barrels to a two-week low of 20.768 million barrels; Light distillate oil inventory increased by 17000 barrels, reaching a two-week high of 15.229 million barrels; Intermediate distillate stocks fell by 680000 barrels to a three week low of 7.93 million barrels.

Upstream: the international crude oil price fluctuated in June. In early June, the oil ban imposed by the European Union on Russia was delayed, and the supply was tight, and the expectation remained unchanged. With the arrival of summer driving season in the United States, demand is expected to improve, supply and demand fundamentals are still good for oil prices, and crude oil prices rise. In late June, the international crude oil price fell, the market returned to fundamentals, and the crude oil supply price was tightly supported. However, affected by the expectation of interest rate hikes by many central banks across the country, the market was worried about the economic recession, and the oil price was still fluctuating in the range. At the end of June, crude oil futures closed up for three consecutive days, hitting a two-week high, as the market questioned the ability of Saudi Arabia and the United Arab Emirates to increase production significantly, as well as the supply concerns caused by the turmoil in Ecuador and Libya.

Downstream: the price of toluene rose rapidly in the first ten days of June, hitting a new high in the year. It began to decline weakly in the middle of the year and rebounded slightly at the end of the month. The price of toluene was 8090 yuan / ton on June 1 and 8860 yuan / ton on June 28, up 9.52% from the beginning of the month. In the first ten days of June, mixed xylene soared, and the price quickly climbed to the highest level of the year. The trend began to turn around and fall in the middle of the month. On June 1, the price of mixed xylene was 8180 yuan / ton, and on June 28, the price was 8390 yuan / ton, up 2.57% from the beginning of the month. In June, the price trend of paraxylene rose first and then declined. By the end of the month, the domestic ex factory price of paraxylene was 10000 yuan / ton, down 1.96% from the price of 10200 yuan / ton at the beginning of the month.

3、 Aftermarket forecast

According to the energy analysts of business agency, in June, the international crude oil price fluctuated downward, and the naphtha cost support was limited. At present, the terminal demand was not significantly positive, and the finished oil was weak downward. The naphtha market was in a strong wait-and-see mood, the market trading was cautious, and the refineries cut prices and shipped goods. It is expected that the naphtha refining in the near future may decline slightly.

In June, the domestic methanol market rose first and then fell, with shock consolidation. The fluctuation range at the beginning and end of the month was not large. According to the monitoring data of business agency, the average price of domestic methanol production enterprises was 2617 yuan / ton at the beginning of June, and 2612 yuan / ton at the end of June. The price fell by 0.19% in the month, with the maximum amplitude of 3.78% and a year-on-year increase of 2.25%.

According to the price monitoring of the business club, in the first half of 2022 (1.1-6.30), 136 commodities rose month on month in the list of bulk commodity prices, mainly in the chemical sector (64 in total) and the agricultural and sideline sector (16 in total), and the commodities with an increase of more than 5% were mainly in the chemical sector; The top 3 commodities with growth rate were butadiene (152.15%), lithium hydroxide (118.46%) and sulfur (89.80%). A total of 95 commodities fell month on month, mainly in the chemical industry (43 in total) and steel (15 in total), and commodities with a decline of more than 5% were mainly in the chemical industry sector; The commodities with the top three declines were electrolytic manganese (-57.47%), magnesium (-46.60%) and glycine (-45.71%). In this half year, the average increase and decrease was 6.53%.

Summary of methanol market prices in various regions as of June 29:

Region, Price

Qinghai region, No quotation

Shanxi region, Mainstream: 2430-2450 yuan / ton

Liaoning region, 2680 yuan / ton to cash exchange

Fujian, Mainstream Negotiation: 2640-2700 yuan / ton

Two lakes region, Mainstream enterprises negotiate for reference about 2590-2650 yuan / ton

Anhui region, The mainstream negotiation is about 2620-2700 yuan / ton

Henan region, The shipment price of some enterprises is 2600 yuan / ton

At the beginning of the month, the domestic methanol market rose first and then stabilized, with narrow fluctuations. The continuous high price of raw coal has led to a good atmosphere in the whole industrial chain. At the same time, the high volatility of the crude oil market has also led to the rise of the chemical market on the macro level. However, after the lower receiving price rose slightly, the rising oil price led to a shortage of return transport capacity, and there is still room for freight to rise. The demand side performance was average, and the methanol spot turned to be stable and wait-and-see in the middle and late weeks of the week.

In the middle of May, the domestic methanol market fluctuated in a narrow range, and the price was relatively higher, rising first and then falling, mainly because the market demand improved and the receiving price rose. However, after the methanol futures fell in the middle of the week, the trading atmosphere became weaker, and the atmosphere of the domestic methanol spot market was light, and the price fell slightly.

In late June, the domestic methanol market fell in a narrow range. The raw coal market dragged down the atmosphere of methanol futures, and the spot market fell in a narrow range. On the supply side, the production enterprises in the main production areas have been overhauled, showing some positive results, but the market sentiment is poor. The pick-up volume of the social warehouse is still low, and the inventory continues to accumulate.

The price of products in the methanol industry chain is mixed, and the price of natural gas in the upstream product of methanol is stable; The price of Zhonghua East glacial acetic acid, a downstream product, fell the most; Among related products, the price of urea in Shandong fell the most.

In the external market, as of the closing on June 28, CFR Southeast Asia methanol market closed at USD 374.00-375.00/t. The closing price of US Gulf methanol market is 101.50-102.00 cents / gallon; The closing quotation of FOB Rotterdam methanol market was 370.00-370.50 euros / ton, down 2 euros / ton.

region ., country., Closing price, Up and down

Asia, CFR Southeast Asia, 374.00-375.00 USD / ton ., USD 0 / ton

Europe and America, US Gulf, 101.50-102.00 cents / gallon ., 0 cents / gallon

Europe, FOB Rotterdam, 370.00-370.50 euros / ton .,- 2 EUR / ton

The production cost of methanol has been loosened. Methanol analysts of the business club predict that the domestic methanol market may continue to decline in the short term.

Trend analysis

According to the monitoring data of the business community, the copper price fell sharply in June. At the beginning of the month, the copper price was 72236.67 yuan / ton, and at the end of the month, the copper price fell to 64211.67 yuan / ton, an overall decline of 11.11% and a year-on-year decrease of 5.98%.

According to the current chart of the business community, in June, the spot price of copper was mostly higher than the futures price, and the main contract was the expected price in two months. The main basis became larger, which was bad for buying hedging.

According to the LME inventory, the LME copper inventory in June was lower than that in May, at a relatively high level for 1-4 months, and there was a base at the end of the month.

Macro aspect: in June, the Federal Reserve of the United States (fed/ fed) took historic measures to combat inflation, raising interest rates by 75 basis points. The initial value of manufacturing PMI in Europe and the United States fell in June than expected, indicating that the demand for industrial products shrank significantly in June, intensifying the market’s concern about the economic downturn. The “copper oil ratio” has continued to decline and has fallen to a low in recent five years, indicating that the risk of economic recession has intensified. On the whole, under the conditions of tight liquidity and continuous fermentation of economic recession concerns, the nonferrous metals sector has fallen sharply and the copper price has also dropped sharply.

Supply: globally, the global refined copper output recovered rapidly after the outbreak. According to the data released by ICSG, in the first quarter of 2022, the global refined copper output increased by 2.7% year-on-year, reaching 6.286 million tons, a record. ICSG also predicted that the year-on-year growth rate of global refined copper production in 2022 and 2023 would reach 4.3% and 3.6% respectively. China has a large copper smelting capacity. It is estimated that the crude refining capacity will reach 9.7 million tons and the refining capacity will reach 14.55 million tons in 2022. In terms of refined copper output, from January to may 2022, due to refinery maintenance, cathode copper output was almost the same as that of the same period last year.

Demand: from the perspective of the pace of resumption of work and production, the downstream demand has not given better feedback. The downstream operation of some copper is still lower than that of the same period last year, indicating that the market confidence is still insufficient. In addition to the increase in copper consumption brought about by new energy vehicles and photovoltaic power generation, copper consumption in traditional power grids, home appliances such as air conditioners, traditional automobiles, construction (including real estate and infrastructure), light industry, electronic communications and other industries decreased.

Based on the above, in June, copper prices fell sharply under the conditions of loose copper supply and weak consumption. In the second half of the year, as the new overseas copper mines are put into operation or reach production capacity, the supply of copper mines will continue to rise in the second half of the year. In addition to the Fed’s interest rate hike, the eurozone, the UK and a number of emerging economies are raising interest rates, which means that global liquidity is shrinking, the economy is slowing down and copper consumption demand is weakening, which is a high probability event. It is expected that the copper price in the second half of the year will continue to fluctuate weakly.

According to the data of business agency, as of June 26, the average price of 180CST of domestic fuel oil was 6690.00 yuan / ton (including tax), down 0.15% from 6700.00 yuan / ton on June 20.

On June 26, the fuel oil commodity index was 135.49, unchanged from yesterday, down 0.15% from 135.70, the highest point in the cycle (June 21, 2022), and up 194.03% from 46.08, the lowest point on August 15, 2016. (Note: the period refers to the period from September 1, 2011 to now)

The international crude oil price fell, and the cost support of the ship fuel market was limited. According to the business news agency, as of June 26, the price of 180CST self raised low sulfur fuel oil and 120cst self raised low sulfur fuel oil in Zhoushan area of China National combustion Corporation were 6650 yuan / ton and 6750 yuan / ton respectively; The price of 180CST self extracting low sulfur fuel oil in Shanghai is 6700 yuan / ton, and the price of 120cst self extracting low sulfur fuel oil is 6800 yuan / ton.

The international crude oil price fell, the market returned to fundamentals, and the crude oil supply price was tightly supported. However, affected by the expectation of interest rate hikes by many central banks across the country, the market was worried about the economic recession, and the oil price was still fluctuating in the range. The US inflation in May exceeded expectations. The CPI soared to 8.6% year-on-year. The US Federal Reserve’s interest rate hike of 75 basis points also set a record. The fear of further increasing the risk of global economic recession, coupled with the uncertainty of the epidemic, has led to major changes in market expectations. The dollar rose again, risky assets were sold off again, and the stock market, bulk commodities and other fields fell on a large scale. Crude oil bears the brunt. It is already at a relatively high level in history. Under the condition that the tight supply situation has not changed, the panic has dealt a heavy blow to the oil price.

The increase in fuel oil inventories in Singapore has limited support for fuel oil prices. It is understood that Singapore enterprise development authority (ESG): as of the week of June 22, Singapore’s medium distillate oil inventory increased by 652000 barrels, reaching a nine week high of 8.61 million barrels; Singapore’s light distillate oil inventory fell by 600000 barrels to a two-week low of 15212000 barrels; Singapore’s fuel oil inventory increased by 1154000 barrels, a two-week high of 21348000 barrels.

Aftermarket forecast: international crude oil continued to fall, domestic ship fuel market costs fell, and suppliers’ shipments were blocked; The terminal demand of the market is general, the receiving of goods is limited, the overall transaction in the market is light, and the purchase is just needed. At present, the low sulfur market price of fuel oil 180CST is about 6700 yuan / ton, and the low sulfur market price of fuel oil 120cst is about 6800 yuan / ton. It is a single discussion. It is expected that the 180CST market of fuel oil will be mainly sorted out in the near future.

1、 Price trend

According to the monitoring data of business agency, the average ex factory price of domestic chlorinated paraffin 52 was 6400 yuan / ton on June 20, and 6316 yuan / ton on June 24. The price of chlorinated paraffin 52 fell by 1.30% this week.

2、 Market analysis

The price of chlorinated paraffin 52 fell this week. The domestic epidemic has weakened, the operating rate of enterprises has increased, and the supply of chlorinated paraffin has increased. The price of raw materials fell this week, and the cost support was insufficient. Downstream demand was acceptable, bargain hunting and on-demand procurement, and trading and investment were improved. As of June 24, the ex factory quotation of chlorinated paraffin 52 in Anhui was about 6300 yuan / ton, the ex factory quotation of chlorinated paraffin 52 in Northeast was about 6300 yuan / ton, and the ex factory quotation of chlorinated paraffin 52 in Shandong was about 6150 yuan / ton.

In terms of raw liquid wax, the overall market of liquid wax decreased this week. Liquid wax follows the change of crude oil market, and the trend is mainly downward. This week, the price of liquid chlorine fell, the demand on the floor decreased, the transaction volume was low, and some liquid chlorine enterprises reduced their load.

3、 Aftermarket forecast

According to the chlorinated paraffin analyst of business agency, at present, the price of chlorinated paraffin raw materials has fallen and the cost support has weakened. The operating rate of chlorinated paraffin is increased, and the supply is increased. The downstream demand began to follow up, and the floor trading volume was acceptable. It is expected that in the short term, the low price of chlorinated paraffin will be mainly adjusted and operated.

1、 Price trend

According to the monitoring data of business agency, the average factory price of domestic ammonium sulfate was 1523 yuan / ton on June 13, and 1456 yuan / ton on June 17. The price of ammonium sulfate fell by 4.38% this week.

2、 Market analysis

The price of ammonium sulfate fell this week. At present, the floor trading is sluggish, the transaction is weak, and the market trend of ammonium sulfate is declining. The domestic and international market demand is weakened, and the downstream purchasing enthusiasm is reduced. Urea prices continued to fall this week, which was bad for ammonium sulfate Market. Enterprises cut down ammonium sulfate for shipment. Some caprolactam enterprises have been overhauled, and the supply of caprolactam grade ammonium sulfate has been reduced. As of June 17, the main factory price of coking ammonium sulfate in Shandong is about 1480 yuan, and that in Hebei is about 1420 yuan / ton. For domestic ammonium sulfate, the mainstream factory price in Shandong is about 1500 yuan / ton, and the mainstream factory price in Shanxi is about 1450 yuan / ton.

The downstream compound fertilizer market fluctuated in a narrow range this week. The price of urea, the raw material of compound fertilizer, dropped, and the pressure on the cost of compound fertilizer weakened. At present, the new orders of compound fertilizer are limited, and the demand is general. In the short term, the market of compound fertilizer will be adjusted slightly at a high level.

3、 Aftermarket forecast

The ammonium sulphate analyst of the business agency believes that the recent ammonium sulphate market continues to be depressed, and the industry is mainly on the sidelines. Urea prices fell, the demand side did not follow up, and there were many negative factors. It is expected that the price of ammonium sulfate will continue to decline in the short term.