I. Price Trend
According to the Commodity Market Analysis System of Business Society, the average market price of caprolactam-grade ammonium sulfate in China on January 12 was 1,063 yuan/ton, representing an increase of 1.59% compared to the average market price of 1,046 yuan/ton on January 5.

II. Market Analysis
Supply and Demand Situation
This week, the domestic ammonium sulfate market showed an upward trend in prices. The operating rate of coking-grade ammonium sulfate remained stable, while the operating rate of caprolactam-grade ammonium sulfate declined, leading to a reduction in market supply. Additionally, the rise in urea prices this week indirectly supported the ammonium sulfate market. Demand for ammonium sulfate remained stable, with improved transaction activity. However, downstream procurement remained cautious, primarily focused on low-price purchases.

Market Conditions
As of January 12, the mainstream ex-factory price of coking-grade ammonium sulfate in the Shandong region was approximately 910 yuan/ton. For caprolactam-grade ammonium sulfate, the mainstream ex-factory price in the Shandong region ranged from approximately 1,020 to 1,070 yuan/ton.

III. Future Outlook
Analysts from Business Society's ammonium sulfate division believe that the ammonium sulfate market is currently trending strongly upward. With favorable market conditions, manufacturers and distributors are maintaining firm pricing. However, terminal demand remains moderate, limiting further upside potential. It is expected that domestic ammonium sulfate prices will continue to consolidate at relatively strong levels in the short term.