This week (June 23-27), domestic liquid ammonia prices have risen. According to the commodity market analysis system of the Business Sheets, the weekly increase in Shandong's liquid ammonia was 2.60%. The main reason is that despite stable downstream demand, some units are still under maintenance and the supply pressure has slightly eased. Currently, the mainstream price for liquid ammonia in Shandong is between 2300 and 2450 yuan/ton. In terms of supply, this week, the supply was basically stable, with some units still under maintenance, leading to a decrease in supply. Additionally, the supply pressure in Hebei, Anhui, and the two lake areas is not significant. The market continued its weak performance at the beginning of the week but saw frequent price increases from midweek to the end of the week, with the manufacturers raising prices by about 100 yuan/ton. The market showed a basic balance between supply and demand. From the demand side, there has been little improvement in downstream demand, with the start-up rate of compound fertilizers still low. However, due to recent export policies, urea has gradually weakened, causing a slight rebound in market transactions. This week, urea prices have increased, which also positively affects liquid ammonia. According to the commodity analysis system, urea prices rose over four days from June 24 to 27. But domestic industrial demand remains soft, agricultural demand purchases based on needs, with sporadic restocking. There has been little improvement in demand, and the market sentiment is largely pessimistic. Looking ahead, Business Sheets analysts believe that the slight increase in liquid ammonia this week is mainly due to favorable conditions on the supply side. On the demand side, there has been no improvement, but next week, the expectation of some maintenance units resuming work may bring back supply pressure, predicting a risk of price adjustment for liquid ammonia.