On April 28, the price of ammonium nitrate in Hebei region remained stable temporarily, with the mainstream market negotiation range at 4,100–4,200 RMB/tonne. Production operations among local manufacturers were stable. Recently, upstream raw material market prices have risen, while downstream procurement conditions have been poor; nevertheless, the ammonium nitrate market has shown an upward trend.

Chempricehub's analysis of ammonium nitrate gives a bullish-bearish rating of 1: although downstream procurement is weak, the increase in upstream raw material prices raises production costs and pushes up spot ammonium nitrate prices. The upward trend in the market indicates that cost-push factors are dominant. Spot prices are expected to continue rising.