Analysis: This week (from 12-9-12), the liquid ammonia market in Shandong remained stuck in the downward trend, with prices fluctuating and declining. According to the commodity market analysis system of Business Sheets, the price decline in the main production area of Shandong was 1.32%. The main reasons were increased supply pressure, the gradual resumption of maintenance units by previous periods, an increase in factory operating rates, and the downturn in the urea market, leading some manufacturers to switch to ammonia, further exacerbating the contradiction of oversupply in the ammonia market. From the beginning of the week to the end of the week, mainstream large factories in Shandong generally reduced their prices by 50-100 yuan/ton. Dealers mostly reported low sales volumes. Moreover, the purchasing enthusiasm from downstream buyers is not high. Agricultural demand remains in the off-season, while industrial demand follows basic needs, with overall bearish demand. Currently, the mainstream price for Shandong's area is between 2600-2750 yuan/ton. Forecast: Seasonal reasons, fertilizer procurement season is in its off-peak, downstream operation rates significantly decrease, industrial demand meets basic needs, and there is sufficient supply. In the future, the pressure of supply may not be resolved timely. However, the market may show regional differentiation in the next few weeks. On one hand, operation rates will decline as prices fall, and on the other hand, heavy snow and rain in Northeast and Inner Mongolia may put pressure on transportation, possibly leading to localized supply shortages. Taking all these factors into consideration, next week's ammonia prices may still not improve significantly, but some areas may stabilize or rebound, and localized differences may lead to price fluctuations.