Procurement sentiment remains generally positive, with domestic ammonium sulfate prices fluctuating within a narrow range (2026-09-16).

1. Today's Summary

① The transition period has ended, and non-self-disciplined enterprises have ceased reporting for inspection.
② Caprolactam operating rate stands at 68.09%. Independent coking enterprises' operating rate is 66.71%.

2. Spot Market Overview

Table 1: Domestic Ammonium Sulfate Price Summary (Unit: CNY/ton)

Taking Shandong coking-grade ammonium sulfate as the benchmark, the price executed at 989 CNY/ton, an increase of 19 CNY/ton. Auction sentiment this week was moderate.

3. Production Dynamics

Currently, caprolactam plant loads are undergoing narrow adjustments, with the caprolactam operating rate at 68.09%. The operating rate for independent coking enterprises is 66.71%. The capacity utilization rate of domestic compound fertilizer enterprises is 32.99%.

4. Price Forecast

Today, the ammonium sulfate market remained stable with a slight upward trend. Due to favorable international end-user prices, granulation plants have sufficient orders, maintaining decent purchasing enthusiasm in the short term. Among them, auction prices for coking-grade ammonium sulfate tend to stabilize, with limited overall fluctuations. It is expected that the ammonium sulfate market will remain stable and cautious in the short term, awaiting policy guidance.

5. Related Products Status

Urea: Today, the domestic urea market continued to operate firmly. On the supply side, production enterprises face limited shipping pressure due to support from previous pending orders, maintaining firm quoting trends. Demand-side performance was relatively flat, with few new transactions; downstream procurement was primarily based on immediate needs, and stockpiling demand showed insufficient acceptance of current price levels. Overall market trading sentiment was cautious. The implementation of the third export quota provided some psychological support to the market, but lacking substantial drivers from concentrated domestic or international demand expansion, the supply-demand tug-of-war continues, leading to a stalemate in market conditions. Currently, some enterprises have started collecting orders ahead of the National Day holiday. Referring to past patterns, prices may see some softening about one week before the holiday, but the market is expected to remain firm and stable in the short term, likely maintaining a pattern of narrow-range oscillation.

Table 2: Domestic Ammonium Sulfate Data Overview (Unit: 10,000 tons)