1、 Price trend

The ex factory price of glycol fell this week, according to data from the business agency. On February 14, the average ex factory price of oil to glycol in North China was 4500 yuan / ton, down 4.59% from last week.

At the beginning of this week, the price of ethylene glycol single can in East China was 4375 yuan / ton, and on Friday, the price was 4340 yuan / ton, down 35 yuan / ton, down 0.8%.

2、 Analysis of influencing factors

As of February 13, the total operating rate of ethylene glycol in China was 69.95%, down 0.43% from last week, slightly down.

In terms of units, the 300000 t / a coal to ethylene glycol project of Shaanxi Weihe Binzhou Chemical Co., Ltd. has been ready for resumption at the beginning of this month; the ethylene cracking unit of Dalian Hengli Petrochemical Co., Ltd. is currently running stably, and the 900000 T / a ethylene glycol unit of phase II has been put into operation successfully.

As of February 13, the glycol inventory in the main reservoir area of East China was about 621000 tons, an increase of 23000 tons or 3.85% compared with last Thursday, and a decrease of 5000 tons or 0.8% compared with this Monday.

In the downstream, the polyester operating rate was 58.60%, down 2.5% from last week.

3、 Analysis and prediction

Due to the impact of the epidemic, the resumption of work in the downstream of glycol was slow, and the arrival of goods at the port was also delayed. According to the news, the daily delivery volume of the port this week is about 11200 tons, and the inventory and delivery are at an absolute low compared with the same period last year. At present, the terminal weaving operation rate is slowly picking up, and the crude oil price continues to rise. In the long term, the price of glycol will be supported. However, due to the gradual mass production of new domestic production capacity, the future market price has been suppressed. Glycol prices are expected to continue to fluctuate slightly in the near future.

1、 Price trend

PS market trend is generally stable. Before the festival, the downstream purchases on demand, the overall market trading performance is poor, and the pace of shipment has slowed down significantly. Price: the main quotation of GPPS is 9150-10300 yuan / ton, and that of hips is 9950-11300 yuan / ton.

2、 Market analysis

PS market situation: Zhanjiang Zhongmei PS factory price, 525 price is 8900 yuan / ton. The ex factory price of CITIC Guoan PS is 9500 yuan / ton for 525, and 9500 yuan / ton for Jiangsu saibaolong PS.

3、 Future forecast

PS market has a strong wait-and-see atmosphere, and the overall transaction atmosphere is not ideal. The factory quotation of petrochemical enterprises has been lowered individually, which may form a certain negative guidance for PS quotation of plastic city. PS market trend is expected to be weak forward.

1、 Price trend

According to a large number of business news reports, this week’s pure benzene rose after the fall, a weak shock. Last Friday, the price of pure benzene was 5500-5950 yuan / ton, and this Friday, the price of pure benzene was 5600-5950 yuan / ton, 0.17% higher than last week.

2、 Analysis and comment

1. Products: near the Spring Festival, pure benzene port inventory has accumulated. With the completion of downstream replenishment of inventory, the completion of traders’ replenishment of empty space and insufficient crude oil support, the operation of pure benzene is weak this week.

2. Crude oil: this week, oil prices fell in shock. Early in the week, the impact of tensions in the Middle East subsided, and the focus of the market turned to the impact of the surge in US oil product inventories. On Wednesday morning, the United States and China signed the first stage trade agreement, which was good for oil prices, and oil prices began to pick up. WTI fell 0.7% and Brent 3.78% compared to January 10.

3. Downstream industry: styrene price is stable this week compared with last week. Due to the downstream stock up before the festival, the shipment of aniline was smooth, and the price was increased by 1.56% compared with last week. Most of the downstream products of pure benzene are in the loss of theoretical production and lack of support for the price of pure benzene.

4. External market: the current external market pure benzene is close to the contract negotiation next month, some businesses have a strong price mentality, the overall external market price shows a small upward trend, but the support for the domestic market is weak.

3、 Future forecast

1. Crude oil: next week, affected by the signing of the first stage trade agreement between China and the United States, oil prices are expected to gradually pick up.

2. Market: Hengli Petrochemical styrene will be tested in late January, when the sales volume of pure benzene will be reduced, it will be good for pure benzene. However, the announcement of the latest Sino US trade agreement raised industry concerns about the inflow of styrene from the United States. The market price of styrene has a downside risk, which is bad for the pure benzene market.

Comprehensive consideration, it is expected that the price of pure benzene in the later period will be lower or weaker.

1、 Price trend chart of nitric acid Market

Nitric acid price curve

(photo source: Commodity analysis system of Business Club)

According to the monitoring of the business agency, the average price of nitric acid in East China this week was 1583 yuan / ton, and the offer was temporarily stable.

2、 Market analysis

Products: the price of concentrated nitric acid for individual enterprises declined, and that of Jiangsu Hongze Yinzhu Chemical Co., Ltd. was 1500 yuan / ton, with stable price; that of Anhui Jinhe was 1450 yuan / ton on Monday, with 50 yuan / ton lower than the previous price; that of Shandong helitai concentrated nitric acid was 1800 yuan / ton, with stable price temporarily. Wenshui Synthetic Chemical Co., Ltd. offers 1750 yuan / ton, which is temporarily stable; Huainan Audley chemical concentrated nitric acid offers 1500 yuan / ton, which is basically stable; nitric acid demand has not improved, and the price trend is weak.

Industry chain: liquid ammonia, the upstream raw material of nitric acid, rose 1.11% this week (1.13-17) according to the monitoring of the business society, mainly due to the slight price increase of some enterprises at the beginning of the week, mainly affected by the low ammonia volume of enterprises. Downstream aniline, the overall weak operation.

3、 Future forecast

To sum up, the nitric acid analyst of the business association predicted that the nitric acid may continue to be weak.

1、 Price trend

At the beginning of this week, EPS price is 9087 yuan / ton, and at the end of this week, EPS price is 9087 yuan / ton. The price is stable, the market is more volatile, and the transaction turns better. Traders and downstream factories receive goods on demand, mainly focusing on market transactions.

2、 Market analysis

EPS Market: EPS market price is stable, Wuxi Xingda EPS factory price, ordinary material quotation is 9000 yuan / ton. The ex factory price of Dongying Hairong EPS is 9050 yuan / ton for common materials. The ex factory price of Jiangyin Hupao EPS is 9100 yuan / ton for common materials.

3、 Future forecast

In addition to maintaining the necessary procurement, the purchasing enthusiasm of the downstream plant of EPS is not high. Besides, the intention of goods preparation is always low, and the terminal demand has been in a poor state. It is expected that EPS prices will be mainly in shock consolidation.

According to statistics, the price trend of domestic ammonium nitrate rose slightly this week. By the end of the week, the market price of domestic ammonium nitrate was 2380 yuan / ton, up 3.48% from 2300 yuan / ton at the beginning of the week, up 5.78% year on year. On January 9, the ammonium nitrate commodity index was 122.81, up 1.76 points from yesterday, a record high in the cycle, up 58.73% from the lowest point of 77.37 on October 31, 2016. (Note: cycle refers to 2013-02-01 to now).

This week, the price trend of domestic ammonium nitrate Market slightly increased. The domestic ammonium nitrate manufacturers started normal operation of their devices, and the supply was stable. The price of the manufacturers was mainly stable. In the near future, the supply of goods in the market was normal. In the near future, some manufacturers achieved better indicators, the factory price slightly increased, and the domestic price trend rose. In addition, the delivery market of ammonium nitrate manufacturers has slightly improved, and the downstream purchase is on demand. Affected by the coming of Spring Festival, the domestic downstream civil explosive industry has a positive sales, the domestic ammonium nitrate manufacturers have limited start-up, and the market price of ammonium nitrate has increased slightly. Up to now, the negotiation mainstream in Shaanxi is 2300-2400 yuan / ton, that in Shandong is 2400-2500 yuan / ton, and that in Hebei is 2400-2600 yuan / ton.

This week, the price of concentrated nitric acid fluctuated at a low level in China, with a weekend price of 1600 yuan / ton. Jiangsu Hongze Yinzhu Chemical Co., Ltd. offers 1500 yuan / ton; Anhui Jinhe offers 1500 yuan / ton; Shandong helitai offers 1800 yuan / ton. Anhui Aodeli offers 1580 yuan / ton; Wenshui County synthetic chemical offers 1750 yuan / ton. In the near future, the operation rate of domestic maintenance equipment is relatively high, the supply of concentrated nitric acid market is normal, and the on-site delivery is general. The market price of ammonium nitrate remains low due to negative factors. The low price of nitric acid is a negative influence of the market of ammonium nitrate, and the market price of ammonium nitrate has a limited increase.

The overall supply of liquid ammonia in the upstream market is relatively loose, and the unit operating rate of the enterprise is slightly higher. The staggered peak and limited production in Shanxi Province and limited transportation in Wuhan, Hubei Province lead to the tight supply of liquid ammonia in some regions, while the start-up of other liquid ammonia enterprises is still at a high level. With the high rate of start-up of liquid ammonia units in Hubei Province, the price trend of liquid ammonia has declined slightly by 0.58%. In addition, in the near future, the maintenance of some manufacturers has been restarted, the operating rate of liquid ammonia enterprises has increased, and the local liquid ammonia market may decline, but nationwide, the overall trend of liquid ammonia is mainly declining. The overall price of the upstream liquid ammonia market is lower, and the price increase of ammonium nitrate Market is limited.

In the near future, the demand of the downstream civil explosive industry has increased, and the supply of ammonium nitrate manufacturers has increased, but the market price of raw materials has been slightly lower, and the price cost support for ammonium nitrate Market is limited. Ammonium nitrate analysts of the business association believe that the demand for ammonium nitrate may rise in the later period, and expect that the market price of ammonium nitrate in the later period may maintain a high volatility.

1、 Price data:

According to the data monitoring of the business club’s bulk list, the domestic bromine market kept stable operation this week, with the average price of bromine kept at about 30444 yuan / ton in the week, down 12.39% from the same period last year.

2、 Cause analysis

Product: affected by the low demand in the downstream market, the price of bromine in China is relatively weak according to previous years. The overall start-up level in the industry is low. Some enterprises have run out of inventory and the industry is in a weak situation of supply and demand. At present, the quotation of enterprises is between 30000-31000 yuan / ton.

Industry chain: the downstream flame retardant market has poor purchase and demand, general support for bromine price, and flat trading atmosphere in the industry; pharmaceutical and agricultural intermediates and other industries are on the low side, and the overall impact on bromine price is negative.

3、 Future forecast

According to the bromine industry analysts of business association, at present, the overall supply and demand of domestic bromine chemical industry are weak, the overall market performance is relatively stable, and the bromine price is expected to maintain stable operation in the short term.

1、 Price trend

The domestic market of cyclohexanone was stable this week. According to the monitoring data of the business agency, the average price of domestic producers of cyclohexanone at the beginning of the week and the end of the week was 7383 yuan / ton, 2.78% higher than that of the same period last month and 14.45% lower than that of the same period last year.

2、 Market analysis

Product: the market of cyclohexanone is stable this week. The main price in Shandong is 7300-7450 yuan / ton (ex factory in spot exchange), which is stable compared with last week. The situation in the Middle East is suddenly tense, crude oil is rising, pure benzene market is rising, and cyclohexanone cost pressure is increasing. Although the caprolactam market is slightly up, the total demand for chemical fiber is general. In addition to the impact of heavy snow in the North last week, logistics and transportation are affected, and the demand for solvent is limited. At the beginning of the week, Bank of China in Jining stopped production of cyclohexanone and converted to cyclohexane production. However, there was abundant spot supply of cyclohexanone, and the industry was not confident in the future market, which led to poor sentiment and stable operation of the market.

Industrial chain: raw materials, pure benzene: this week, pure benzene rose in shock. This week, the Middle East geopolitical factors led to a staged surge in crude oil prices, which led to an increase in the price of benzene inside and outside. Within the week, FOB South Korean pure benzene once rose to 751 US dollars / ton, and domestic East China market sales rose to 6020 yuan / ton. Driven by the rise of pure benzene, phenol ketone and caprolactam in the downstream rose slightly in the week. However, the main downstream styrene declined due to the difficulty of spot delivery and the expected increase of subsequent supply, which failed to form a good support for pure benzene. Therefore, the rebound basis of pure benzene is not solid. After the crude oil’s rise is digested and the rise is reversed, the center of gravity of pure benzene also shows a small decline.

Caprolactam: the caprolactam market rose slightly this week. On January 3, the US air strike resulted in the death of senior Iranian officials, and the escalation of us Iran conflict led to the rise of crude oil prices, with the price of kinetic plate following the rise. The price of pure benzene rose to 6000 yuan / ton in East China market under the support of favorable external conditions. The loss of caprolactam was deepened when the price of raw materials increased, and the manufacturer actively supported the price to reduce the loss. In addition, due to the impact of snowfall in the north this week, the start-up of the caprolactam plant in the North was not high as a whole, and transportation was limited, resulting in the shortage of caprolactam spot supply. The market price of caprolactam increased with the improvement of cost and supply.

Adipic acid: in the end of the month, the attitude and enthusiasm of the domestic adipic acid market players have decreased, and the external situation at the beginning of last weekend and the rainy and snowy weather in many places also have a certain impact on the adipic acid market. At the beginning of the month, the main adipic acid plants were mostly free of pressure, some of them were still under construction, the trading hours were slightly reduced, the contract volume of middlemen was also reduced, the pressure of manufacturers was not low, and the market mentality was strong. With the change of news in the week, the offer moved up slowly, and the middle of the week was a short wait-and-see. The main listing of pure benzene is on the high side of 5950 yuan / ton, and adipic acid industry is generally concerned about cost pressure. However, the price of oil and bulk will be boosted briefly within the week based on the news from the inside and outside of the week, and then the price will go down. However, the settlement cycle is nearly half, and the cost will still move up to support the expectation of the industry.

3、 Future forecast

In general, although some cyclohexanone is temporarily stopped, there is abundant spot supply in the market, and the demand for chemical fiber is general. Near the end of the year, logistics and transportation are limited, and solvent users have entered the holiday stage in succession, and the impact of total market demand is limited. Business community cyclohexanone analysts expect that the market for cyclohexanone will be stable before the festival.

1、 Price trend

In 2019, the domestic market of dimethyl ether rose many times and then fell sharply, showing a continuous trend of “down v”. Compared with last year, this year’s trend is more tortuous, and the overall price is at a low level. According to the monitoring data of business agency, the domestic market price of dimethyl ether will be slightly reduced in 2019, mainly due to shocks. At the beginning of the year, the average price was 3220 yuan / ton, and at the end of the year, the average price of dimethyl ether in China was 3123.33 yuan / ton, a year-round decline of 3.00%. From the trend chart of DME price, it can be clearly seen that the highest point of domestic DME price in 2019 appears on January 7, the average domestic price is 3630 yuan / ton, the lowest point appears on August 30, the average price is 2920 yuan / ton, the maximum amplitude of the whole year is 19.56%, and the price comparison between the end of the year and the beginning of the year is not much different.

2、 Market analysis

In 2019, the price trend of the whole year is roughly divided into four stages. The first stage is from the beginning of the year to the end of April, with the market of DME fluctuating at a high level; the second stage is from the end of April to the end of July, with the market of DME falling continuously; the third stage is from the end of July to the end of November, with the market of DME rising and falling twice in a row; the fourth stage is from the end of November to the end of the year, with the market of DME fluctuating continuously The market rose continuously, and the specific trend is as follows:

In the first stage, around the Spring Festival, the market of dimethyl ether fluctuated frequently, mostly with high volatility, and the overall transaction atmosphere was fair. At the beginning of the month, due to the strong trend of the international crude oil and liquefied gas market, it played a positive role in the DME market. In addition, under the influence of the new year’s Day holiday, the downstream manufacturers actively entered the market to replenish goods. The manufacturers are confident and the prices continue to rise to a high level. However, the rate of pushing up is too fast, and there is a psychological resistance to high prices, and the downstream replenishment is over, and they have left the market to wait and see. But at this time, the Spring Festival will come, and the manufacturers will arrange the warehouse before the festival, so the market atmosphere is stagnant. Manufacturers have no choice but to continue to make profits until the market trading atmosphere has warmed up. After the Spring Festival, in most areas, there is Blizzard, the market demand and transportation capacity are in a weak position, the manufacturer’s shipment is continuously blocked, the inventory pressure is increasing, the market continues to be weak, mainly downward. Until the beginning of March, the market rebounded to a certain extent due to the upward support of cost methanol and the influence of multiple plant maintenance in Henan Province. Later, due to the control of liquefied gas, it returned to the weak.

In the second stage, the market of dimethyl ether is in the off-season, and the unit is under centralized maintenance. The overall operating rate in April is only 22.33%. In the early stage, due to the impact of centralized maintenance in Henan, the market supply was reduced, and the consolidation was mainly horizontal. However, in the later period, the maintenance benefits are constantly consumed, most of the manufacturers’ devices are restarted, and the market is in the off-season, the terminal demand is gradually weakened, the manufacturer’s inventory is gradually increased, and the downstream only needs replenishment. At this time, the cost of methanol fluctuated upward, which increased the cost pressure of DME production enterprises. But by crude oil and liquefied gas containment, prices fell one after another. At this time, the production enterprises are affected by high inventory and high cost, and are adjusted to half load production.

In the third stage, the market of DME fluctuated for two consecutive times. The first time: on July 19, there was an explosion in Henan Yima Gasification Plant, and all four of its enterprises stopped for rectification. The overall operating rate of the market fell sharply, resulting in a sharp rise in market price. Take xinlianxin in Henan Province as an example, it rose from 2980 yuan / ton to 3350 yuan / ton, an increase of 12.42%, and other plants all increased significantly. Due to seasonal factors, the terminal demand has not improved, and the market continues to rise, so after the event, the DME market quickly returned to rationality. In August, due to weak terminal demand, unable to support the market, the transaction atmosphere continued to be cold, and xinlianxin repeatedly implemented the minimum guarantee policy to protect the market price. However, the impact on the market is limited and the decline cannot be changed. In the later stage, the traditional “gold nine silver ten” market showed signs of recovery. The second time: on September 14, the attack on Saudi Aramco’s factory led to a sharp rise in crude oil, which led to a sharp rise in liquefied gas in a short time, and the cost of methanol was also driven by crude oil. This event reversed the decline of dimethyl ether, and the downstream buyer was active in entering the market. Then, the 11th primary school holiday brought good results. The market price of dimethyl ether rose continuously, and the price was only the highest point in the next year. In the middle of October, although the peak season was not over, it was also close to the end. DME ended the peak season ahead of time due to the rapid rise in the early stage. In late October, the market opened a downward channel, and the downstream market dropped out to wait and see, with a cautious attitude.

In the fourth stage, the operating rate of domestic DME market was only 15.58% in November, and the market supply decreased. In November, CP price rose, coupled with the continuous rise of international crude oil in late November, the news played a positive support in the face of the market. Although the cost of methanol in this stage is weak, liquefied gas is the main driving force for the rise of DME. Due to the tight international spot supply, the civil market of liquefied gas is dominated by a large margin. The national market has increased by different ranges, the price difference between gas and ether has been continuously opened, the downstream mentality is better, and the enthusiasm for entering the market has been improved. The DME market rose to the end of the year.

DME production in 2019:

10000 tons January February March April May July August September October November

Output 24.65 21.765 24.494 22.465 24.567 22.13 22.43 15.29 13.71 8.8 12.0

Year on year 0% – 11.70% + 12.54% – 8.28% + 8.56 – 9.92% + 1.36% – 31.83% – 7.71% – 35.81% 36.36%

3、 Industrial chain:

In 2019, the domestic methanol market fluctuated frequently. According to the monitoring data of the business agency, the average market price at the beginning of the year was 2188 yuan / ton. As of December 23, the average market price of methanol in China was 2090 yuan / ton, down 4.48% in the year. The highest price in the year is 2572 yuan / ton on March 11, and the lowest price in the year is 1970 yuan / ton on July 31, with a maximum amplitude of 23.41%.

The methanol market in 2019 can be described as “mixed sorrow and happiness”. According to the monitoring data of the business association, the domestic methanol market price has two large-scale growth, the first time in the first quarter, with the increase of 16.91% from February 12 (2200 yuan / ton) to March 12 (2572 yuan / ton) after the lunar year. The second time was at the end of the third quarter and the beginning of the fourth quarter. From September 1 (1994 yuan / ton) to October 11 (2392 yuan / ton), the increase was 19.96%. A big price “dive” occurred in the middle of the second quarter, and the price continued to fall for a long time, from May 23 (2342 yuan / ton) to July 31 (1970 yuan / ton), down 15.88%.

In 2019, the domestic civil market of liquefied gas developed into: the first half of the year saw great ups and downs, and the second half of the year saw “forge ahead”. Compared with 2018, the trend is quite different, but still subject to seasonal factors. According to the monitoring data of the business agency, the price of domestic liquefied gas (Shandong) market rose slightly in 2019, during which most of the price was volatile. At the beginning of the year, the average price of liquefied gas was 3900 yuan / ton, and at the end of the year, the average price was 3966.67 yuan / ton, an increase of 1.17% in the whole year. It can be clearly seen from the price trend chart of liquefied gas that in 2019, the highest price of domestic liquefied gas appeared on April 26, the average price was 4516.67 yuan / ton, the lowest price appeared on September 11, the average price was 3640 yuan / ton, the maximum amplitude of the whole year was 19.41%, the annual fluctuation was large, and the price of liquefied gas hit a new low within two years.

4、 Future forecast

In recent years, more and more attention has been paid to the news of DME industry. Due to the influence of policies, some manufacturers have been shut down for a long time. Although the production capacity is high, the utilization rate has been greatly reduced. As we all know, most of dimethyl ether is used to mix with liquefied gas, but in the second half of 2019, the state strengthened the inspection of mixed gas, and some small manufacturers had to shut down. In 2019, the market operating rate of dimethyl ether is only about 15-20%, and the two methyl ether survive under the attack of two sides of methanol and liquefied gas. As of December 30, the market price of DME has returned to a stable state. In the short term, it seems that the trend of DME is mainly narrow adjustment. Looking back to 2019, the market trend of DME is lower than that of previous years, the overall price is at a low level, the market supply and demand is unbalanced, and the fluctuation is still greatly affected by the trend of liquefied gas Civil and methanol. In 2020, the mixed market is not optimistic, and the living space of DME may still be narrowed.

1、 Price trend

According to the data of the bulk list of business agencies, ammonium sulfate continued to fall in the fourth quarter, and the market is now stable. On October 1, the average domestic ex factory price of ammonium sulphate was 636 yuan / ton, and on December 29, the average domestic ex factory price of ammonium sulphate was 546 yuan / ton, and the price fell by 14.14% in the quarter. So far, the ammonium sulphate commodity index on December 29 is 45.75, which is the same as yesterday, 56.95% lower than the highest point 106.28 (2012-05-24), and 24.83% higher than the lowest point 36.65 on June 23, 2014. (Note: cycle refers to 2011-09-01 to now)

2、 Market analysis

Product: the market of ammonium sulphate is stable at present after the previous big fall. The domestic and foreign market of ammonium sulphate is weak, and the market of coking ammonium sulphate is stable. The price of mainstream ammonium sulfate in Central China is about 420-650 yuan / ton, that in Henan Province is 450-650 yuan / ton, that in Hebei Province is 480-750 yuan / ton, that in East China is 450-680 yuan, that in North China is 450-650 yuan / ton, and that in Northeast China is 450-650 yuan / ton.

Industrial chain: the agricultural demand is off-season. At present, the production enthusiasm of the downstream compound fertilizer enterprises is not high, and the operating rate is around 40%. The raw materials are mostly purchased on demand, and the supply is sufficient. Generally speaking, the demand for ammonium chloride in the downstream market is weak. The price of ammonium chloride is slightly loose. With the small increase of nitrogen fertilizer market, it is expected to drive up, and the industry is slightly boosted. At present, the compound fertilizer enterprises are mainly horizontal arrangement with limited adjustment space. Mainly focus on the trend of urea. Compared with other regions, the northeast region has improved in goods delivery.

Industry: according to the price monitoring of the business agency, in the 51st week of 2019 (12.23-12.27), there are 22 kinds of commodities in the list of commodity price rise and fall in the chemical industry sector, including 1 kind of commodity with an increase of more than 5%, accounting for 1.2% of the number of commodities monitored in the sector; the top three commodities are respectively trichloromethane (10.53%), epichlorohydrin (4.42%) and propane (3.82%). There are 21 kinds of commodities falling on a month on month basis, and one kind of commodities falling by more than 5%, accounting for 1.2% of the number of commodities monitored in this sector; the top three products falling are sulfur (- 5.63%), phosphate rock (- 3.20%), lithium carbonate (- 3.06%). This week’s average was 0.11%.

3、 Future forecast

According to analysts of ammonium sulfate of business association, at present, the start-up of ammonium sulfate Market in winter is slow, and the operation rate of downstream compound fertilizer enterprises is slightly increased, but the enthusiasm of stock up is insufficient. Domestic demand for ammonium sulphate is weak abroad, and the delivery volume is average. The market bidding of coking ammonium sulfate is better than before. It is expected that the internal ammonium sulfate Market will fluctuate slightly in the later stage, while the coking ammonium sulfate Market will remain stable.