This week (November 17-21), the domestic ammonia prices have primarily seen a decline in price. According to the commodity market analysis system of the Business Sheets, the weekly decrease in Shandong's ammonia prices was 0.67%. The main reason is the gradual lifting of environmental production restrictions in some northern provinces, and the resumption of operations by some units, leading to an increase in supply. Currently, the mainstream price for ammonia in Shandong is between 2400-2580 RMB/ton. Looking at the supply side, this week has seen a stable trend of increasing supply. With the end of environmental production restrictions in the north, the operation of ammonia enterprises has gradually resumed, and the ammonia output from Shandong, Hebei, and Henan areas has not decreased, leading to a stop in price increases and a slight decline. In the Northwest, Inner Mongolia, and Ningxia areas, prices have significantly fallen, while in the Southwest area, there has been a slight increase. There is a slight differentiation among regions. From the beginning of the week to midweek, some enterprises in Shandong had downward adjustments, but the extent was small. The price adjustments by large enterprises in Shandong were generally within 100 RMB, showing a basic balance of supply and demand. However, there is still a hope for later resumption of work, and the supply may continue to increase. On the demand side, downstream demand has been weak, with low start-up rates for compound fertilizers, a weak phosphorus fertilizer market, and relatively weak demand. However, urea shipments have increased recently, and prices have rebounded during the week, according to the commodity analysis system, with a weekly increase of 1.53%. On one hand, the reserves in the Northeast region have increased, and demand has increased, and on the other hand, due to the impending India purchase order, there is a market demand for speculation. Overall, domestic industrial needs are weak, agricultural needs are purchased as needed, and sporadic restocking is mainly done, with little improvement in demand. The market remains dominated by a wait-and-see attitude. Forecast: Analysts from Business Sheets believe that next week, the supply and demand pressure in the ammonia market will be average, and the market may enter an oscillating period. On one hand, short-term localized supply is stable and continues to be suppressed by further increases. On the other hand, currently, there is no improvement in agricultural needs, and industrial demands remain weak, so it is expected that ammonia will continue to face difficulties in rising prices. The future range adjustment will be the main focus.