1、 Price quotation

According to the monitoring data of business agency (100ppi. Com), compared with the high price of more than 40000 yuan, the price of natural rubber at that time had fallen by three quarters. In 2019, the price of natural rubber as a whole had three surges (12070 yuan / ton on March 4 was the first high price, 12020 on June 11 was the second high price, 12290 yuan / ton on December 6 was the third high price), and the two downturns of the whole year (10700 yuan / ton at the end of April and the beginning of May and 10260 yuan / ton at the end of July and the beginning of August), but none of these three months of market in the first quarter of 2020 is worrying. According to the market data of natural rubber in 18 years in Baodao, East China monitored by the business agency, the price on March 30 is about 9100 yuan / ton, which is about one fifth of the highest price of Tianjiao and the lowest price in ten years. From the single month of March, the price of 9100 yuan / ton at the end of the month is about 1300 yuan / ton lower than the mainstream price of 10400 yuan / ton at the beginning of the month, a drop of 10.67%.

According to the data of the previous period, on March 18, 2020, the main contract of Shanghai Jiaotong broke 10000 yuan, which is still fluctuating and decreasing; on November 27, the lowest price in Shanghai Jiaotong was 9300 yuan / ton, which has broken the low value of 9350 yuan / ton that Shanghai Jiaotong went out on November 30, 2015; on November 30, the lowest price in Shanghai Jiaotong was 9115 yuan / ton, which has renewed the new low price; looking back at the historical trend, the lower price of Shanghai Jiaotong is 8 on December 31, 2008 715 yuan / ton, that is to say, Shanghai rubber is at the lowest price in 11 years.

2、 Factor analysis

Raw material supply: at present, the rubber production at home and abroad is in the off-season. The weather in the main production areas of China is dry and powdery mildew occurs in some areas. It is expected that the cutting time will be delayed and the output will not be as good as that in previous years. The Southeast Asian market will be significantly affected, and the output and export transportation of natural rubber will be significantly affected. There are a lot of raw rubber arriving at Hong Kong in China after the year, and the influence of production factors on the market is not clear. According to statistics, the existing stock of Tianjiao in China can maintain the consumption for three months, that is, China mainly relies on the existing stock consumption in the first quarter. From the perspective of prevention and control situation, the current domestic situation is positive, and all walks of life are back to work in an orderly manner; however, the foreign situation is very severe, and the Southeast Asian rubber producing countries have taken continuous measures in the near future.

Thailand: on April 16, Prime Minister Bayu said that he would propose to the cabinet to cancel the songganjie holiday from April 13 to 15; on April 16, the South Buri Prefecture in the northeast of Thailand announced the closure of the city; on March 26, Thailand launched the emergency law and enforced it for one month; on March 29, Thailand’s Phuket Prefecture announced that it would block the land and water routes in and out of Phuket except air routes from March 30 to April 30. At present, the main rubber production area in southern Thailand is not “closed city”, but the closure of Malaysia has a serious impact on the rubber transportation in Thailand. The exports of Thailand, Shatun and Dongli account for about 30% of the total exports of Thailand, of which the transfer exports through the ports of Malaysia account for about 40-50%. According to this proportion, the impact on Thailand’s exports will be about 40000 tons, while Thailand is urgently deploying the ports in Thailand Mouth. The price of rubber raw materials in Thailand fell, and the price of cup rubber was the lowest ever. Data shows that as of March 27, the glue price in Thailand’s Heai region was 35.5 baht / kg, with an average price of 38.93 baht / kg in March, down 2.73 baht / kg compared with February; the cup glue price was 27.5 baht / kg, with an average price of 30.97 baht / kg in March, down 2.79 baht / kg compared with February.

Malaysia: on March 16, the Prime Minister of Malaysia announced that he would take two weeks of stricter restrictions nationwide from March 18 to strengthen the prevention and control of public health incidents. On March 18, Penang Port of Malaysia announced that it would not accept the transit of Thai goods. Under the measures of “closing the city”, there is a great pressure on Malaysia’s domestic high storage. According to the data, in 2019, Malaysia’s natural rubber output will be about 650000 tons, accounting for 4.55% of global natural rubber output. In 2019, China’s imports from Malaysia will be 699000 tons, accounting for 13.28% of China’s total imports of natural rubber. In 2017-2019, China’s average monthly imports from Malaysia will be about 65000 tons, and Malaysia’s “closure” may directly cause China’s imports from Malaysia to shrink About 35000-35000 tons will be reduced, and “closure” will basically shut down domestic rubber processing plants in Malaysia, which will significantly reduce the import demand for Thailand’s concentrated latex and African rubber raw materials.

Indonesia: Indonesian President Joko called on religious leaders to help fight the epidemic, refused to seal the city but ordered extensive tests. At present, the impact of the country’s exports is small.

India: the government announced a three-week national blockade beginning on March 25. The sudden “closure” has brought no small shock to Indian society. The logistics has stagnated, production has stopped and supply chain has broken. India’s economy is inevitably impacted.

Inventory data: as of March 27, the warehouse receipt inventory of the previous stock exchange was at a low level in the same period, but the stock of imported rubber arrived at the port after the year accumulated. It is said that the stock of natural rubber at the spot end of Qingdao free trade zone was high and under great pressure. As of March 27, the natural rubber inventory of the previous period was 242467 tons, 1907 tons less than that of February 28, and the futures inventory was 236670 tons, 1730 tons less than that of February 28, 184750 tons less than that of the same period in 2019; the rubber inventory of the previous period was 73829 tons, 11917 tons more than that of February 28, and the futures inventory was 53545 tons, 9777 tons more than that of February 28. The total inventory of natural rubber in Qingdao free trade zone is 753400 tons, including 188000 tons in free trade zone and 565400 tons in general trade.

Import and export volume: according to customs data, from January to February 2020, China imported 840200 tons of natural rubber (including latex and mixed rubber), an increase of 5.03% over the same period in 2019. From January to February 2020, China’s import standard is 223100 tons, an increase of 39600 tons compared with the same period of 2019; import tobacco flake rubber is 23300 tons, an increase of 0100 tons compared with the same period of 2019; import mixed rubber is 526900 tons, an increase of 21100 tons compared with the same period of 2019; import compound rubber is 8900 tons, a decrease of 4600 tons compared with the same period of 2019.

Demand factors: 1. Tire: in March, the domestic tire enterprises returned to work stably. At first, the situation of domestic epidemic control was good, and the enterprise mentality was positive. Later, the situation of foreign spread was rapid, which had a huge impact on downstream orders. The tire export was blocked, and the production situation of tire enterprises was not as expected. 2. Passenger cars: under special circumstances, the domestic demand for passenger cars has been greatly reduced. According to the statistics of China Automobile Association, in February, China’s production and sales of passenger vehicles completed 195000 and 224000 respectively, down 86.4% and 86.1% on a month on month basis, down 82.9% and 81.7% on a year-on-year basis, higher than the overall decline of automobile production and sales. Affected by the sharp decline in the market in February, the growth rate of production and sales of passenger vehicles also fell sharply from January to February, completing 1.631 million and 1.831 million respectively. According to the resumption of production in the first ten days of March mastered by CAAC, it is much better than that in February. In the last ten days of March, the situation of China’s automobile industry returning to work further improved. 3. Substitute rubber: at present, the international crude oil plummeted, which has a very direct impact on the commodities in its chemical industry chain. As a result, the cost of butadiene and synthetic rubber of natural rubber decreased due to the decline of crude oil. As part of synthetic rubber can replace natural rubber in the production of tire factories, the depressed natural rubber market has become even worse. 4. A number of foreign tire manufacturers closed their factories and the tire industry was seriously affected.

Industry policy: on March 17, the Ministry of Finance and the State Administration of Taxation issued the announcement on increasing the export tax rebate rate of some products, saying that from March 20, 2020, the export tax rebate rate of 1084 products will be increased to 13%; the export tax rebate rate of 380 products will be increased to 9%. The export tax rebate rate of synthetic rubber increased from 10% to 13%, encouraging the export of synthetic rubber. However, under the influence of the bad macro environment and the serious contraction of downstream demand, the pressure on the synthetic rubber outlet is obvious.

3、 Future forecast

Natural rubber analysts of the business club believe that the special situation in the first quarter is even worse for the natural rubber market. Although China’s domestic situation is getting better and the situation of tire enterprises returning to work is getting better, the uncontrollable factors of foreign situation still lead to commodity level worries and bearish. This month, the price of Tianjiao fell from about a quarter of the highest market price to about a fifth, while Shanghai Jiao fell sharply in a row, ranking the lowest in a decade. Although the current output is limited and foreign supply is blocked, which is a good thing for Tianjiao market, under special circumstances, crude oil has fallen sharply and the global economy has slowed down, Tianjiao supply chain has been hit, downstream demand has been blocked and orders have been severely reduced, and the social inventory of domestic Tianjiao is high, and the production peak season of production enterprises after the Spring Festival is far away. In foreign countries, the situation of prevention and control is still tense, and the demand is not greatly improved, Tianjiao market is still worrying. Pay close attention to the impact of the progress of prevention and control situation on the commodity level, and expect the turning point to come as soon as possible.

Magnesium market trend

According to the data of business agency, the average market price of magnesium ingot as of 31 days was 13783.33 yuan / ton, 14550 yuan / ton compared with the average market price at the beginning of the month, with a monthly decrease of 5.27%.

According to the tracking information of the business agency, on March 31, the main quotation range of magnesium ingots in fugu (99.9%) was 13500-13700 yuan / ton; that of magnesium ingots in Ningxia (99.9%) was 13650-13750 yuan / ton; that of magnesium ingots in Taiyuan (99.9%) was 13750-13850 yuan / ton; that of magnesium ingots in Wenxi (99.9%) was 13850-14000 yuan / ton.

Poor demand and worrying export

At present, domestic demand is gradually picking up in March, and the rate of commencement and resumption of work in the downstream is increasing day by day. At present, it is basically back to the level before the Spring Festival. However, in the context of the general decline of bulk commodities, traders and downstream users have a low willingness to store goods and just need to purchase in small quantities. In the middle and last ten days of February, due to traffic problems, the main production areas are overstocked in shipment, and there are many futures deliveries in March. The mainstream manufacturers have a strong demand for new orders, and they have lowered the high prices in the early stage, and the market is back to normal.

In March, the international market was greatly affected, East Asia, Europe and the United States were affected by the new crown epidemic, and the export of magnesium ingots weakened. It is reported that in 2019, a total of 452000 tons of various magnesium products will be exported, accounting for 46.6% of magnesium output. Export worries affect domestic market sentiment.

Expected market outlook

The downstream demand is weak. At present, the price of magnesium ingot is back to normal. It is expected that it will run stably in the near future, and pay attention to the change of downstream purchase rhythm in the later stage.

1、 Price trend

According to the data of the business club’s large scale list, the aniline Market is running smoothly this week. On Friday (March 27), the price in Shandong is 5900 yuan / ton, and that in Nanjing is 6150 yuan / ton. At the beginning of the month, the price of aniline was 6800 yuan / ton in Shandong and 7300 yuan / ton in Nanjing.

2、 Analysis and comment

Raw materials: this week’s listing price of pure benzene is 2850-3700 yuan / ton (average price is 2940 yuan / ton), 860 yuan / ton lower than last week, down 22.63%. Sinopec fell for the second time this week, with the listing price of pure benzene reduced by 800 yuan / ton to 2900 yuan / ton. The fundamental contradiction of pure benzene is gradually increasing. Raw materials: the crude oil price is low, the price of pure benzene in the external market continues to fall, the arbitrage window in the internal and external market opens, and the arrival volume of imported pure benzene increases. In terms of downstream demand: the overall downstream starting load this week shows a downward trend, with poor terminal demand. Port inventory: this week’s port inventory is significantly higher than last week’s, and refinery inventory is high. Multiple negative effects, this week pure benzene fell endlessly.

Nitric acid continued to rise this week. The production price in East China was 1600 yuan / ton, up 50 yuan / ton, or 3.23% from last Friday.

Product: the operating rate of aniline enterprises is lower than that of last week, and some enterprises stop for maintenance. Supply and demand of aniline are balanced, there is no delivery pressure, and the price remains stable within the week.

3、 Future expectation

Raw materials: the downstream operating rate decreased, and the demand for pure benzene was difficult to improve. The low price of hydrogenated benzene impacts the pure benzene market. In addition, the pure benzene plant is willing to increase the load, so the inventory pressure will increase. The contradiction between supply and demand has increased, the short-term market is difficult to get a substantial improvement, and the price of pure benzene is still possible to be lowered.

Pay attention to the restart and delivery of aniline plant. It is expected that the price of aniline will be stable in the short term, and the price trend in the later period will be affected by supply and demand.

1、 Price trend

According to the price monitoring data of business agency, on March 27, according to the average comprehensive quotation of sample enterprises, at present, the mainstream reference quotation of domestic n-propanol containing packaging is around 9200-10200 yuan / ton, and the reference price of bulk water is around 9500-9000 yuan / ton.

2、 Market analysis

Product: this week, the domestic market of n-propanol is mainly stable, the quotation of dealers in some regions has been adjusted downward, and the overall market is small. At present, Nanjing Rongxin Chemical Co., Ltd., the manufacturer of n-propanol in Nanjing, maintains the factory price of n-propanol purified water at 8500 yuan / ton; the dealers in Nanjing quote about 9000 yuan / ton for purified water; in Shandong, the barrel dealers quote about 9200-10000 yuan / ton for reference and 8700-9000 yuan / ton for the low end of bulk water. The price of imported n-propanol bulk water is around 9500 yuan / ton as quoted by traders and 10000-12000 yuan / ton as barrel price. Among them, the quotation of imported n-propanol in barrels in Shanghai is relatively high. In view of the dealers’ reservation on the price, the price is not easy to monitor, which may lead to specific negotiation situations or differences. There are also differences in each region, and the actual single negotiation is the main one.

Industrial chain: on March 25, the market price of propylene in Shandong Province rose slightly. In March, the price of propylene in Shandong began to decline. On the first day, the price of some enterprises picked up slightly. On the second day, the price of the whole line rose slightly. On the third day and the fourth day, the price of most enterprises generally rose. On the fifth day, the price of some enterprises increased by about 50-100 yuan / ton. On the sixth day, the price of enterprises fluctuated up and down, but the range was small. On the tenth day, the price generally fell by 50-100 yuan / ton. On the eleventh day, the price slightly fell by 50 yuan / ton. On the twelfth day, the price of some enterprises rose slightly There was a slight decline of 50-100 yuan / ton, and the price fell by 200-300 yuan / ton on the 13th. On the 16th, the price was stable again. On the 17th, 18th and 19th, the price fell continuously. Since the 20th, the price has remained stable, and on the 24th, the price slightly increased. Today, the price continues to rise. At present, the market turnover is between 5750-6000 yuan / ton, and the mainstream price is around 5800 yuan / ton. Influenced by the OPEC meeting and various international economic policies, the international crude oil prices went up and down sharply: on the 16th, the prices fell again sharply, on the 17th, on the 18th, they went down sharply, on the 19th, they picked up slightly, on the 20th, they went up obviously, on the 23rd, they went down obviously, and on the 24th, they picked up again. Due to the low production and inventory before propylene, the early decline is not significant, and the late follow-up trend is also obvious, but it started to rise yesterday. It is expected that propylene prices will continue to callback in recent days, but the range is limited.

3、 Future forecast

According to the analysts of business agency, the overall supply and demand of domestic n-propanol market is basically stable, and it is expected that the market will still be weak and stable in the future. It is not ruled out that the market as a whole is subject to small price changes due to inventory and other factors.

1、 Price trend

According to the data monitoring of business agency, as of March 19, based on the quotation of several sample enterprises, at present, the average ex factory price of domestic butanone market is around 7500 yuan / ton.

2、 Market analysis

Product: at the end of last week, the domestic butanone market remained weak and stable, and the trading firm’s offer was stable. At the beginning of this week, the market of butanone was under explored. On the 18th, the market of butanone was slightly weak and fell, and the trading volume was still low. There were fewer real orders, and the trading volume was loose. On the 19th, prices in some regions of the butanone market fell again. At present, the butanone market in Southern China has a flat transaction, and the market reference factory quotation is around 7450-7550 yuan / ton; it is about 100 yuan / ton lower than the beginning of the week; the market reference factory quotation of butanone in North China is 7250-7350 yuan / ton, about 200 yuan / ton lower than the beginning of the week; the market reference factory quotation of butanone in East China is 7200-7400 yuan / ton, about 200 yuan / ton lower than the beginning of the week; Jiangsu is weak Mainly for finishing, among which the factory quotation of butanone of Nantong Zhongkai Chemical Co., Ltd. is 7400 yuan / ton.

Industrial chain: LPG market experienced a few days of slight increase in early March. On the 6th, the average price was 3766.67 yuan / ton, but soon the market price fell again. On the 10th, the average price of LPG market was 3483 yuan / ton. This week, the liquefied gas market dropped significantly. At present, as of the 18th, the reference price of liquefied gas market monitored according to the data of business association is about 3066 yuan / ton. The market price of liquefied gas in Shandong Province has been lowered again, and the mainstream price is about 2900-3200 yuan / ton; the mainstream price of liquefied gas in North China is about 3300-3350 yuan / ton.

Industry: according to the price monitoring of the business agency, on March 11, 2020, there are 17 kinds of commodities in the price up and down list of bulk 58, which are concentrated in the steel plate (5 kinds in total) and non-ferrous plate (5 kinds in total), and the commodities with an increase of more than 5% are mainly concentrated in the energy plate; the top three commodities are WTI crude oil (10.38%), soybean (2.23%) and zinc (1.56%). There are 21 kinds of commodities decreased on a month on month basis, focusing on energy (7 kinds in total) and building materials (3 kinds in total). The first three commodities decreased were coke (- 3.01%), fuel oil (- 2.44%) and methanol (- 2.32%). The average price of this day is 0.14%.

3、 Future forecast

According to the analysis of the data division of the business agency, at present, the domestic butanone market demand has not been followed up obviously, and the market turnover is slightly depressed. It is expected that there will be risks of further exploration in the near future.

1、 Price trend

According to the price monitoring of the business agency, the comprehensive price of hydrochloric acid in North China fell slightly this week, and the quotation dropped from 246.67 yuan / ton at the beginning of the week to 243.33 yuan / ton at the end of the week, down 1.35%, up 163.06% year on year. Overall, hydrochloric acid market fell slightly this week, with the hydrochloric acid commodity index at 64.03 on March 20.

2、 Market analysis

（1） Products:

This week, the price of hydrochloric acid market manufacturers fell slightly, the overall market is average. The quotation of Taiyuan kunshengda hydrochloric acid is 420 yuan / ton, which is temporarily stable; the quotation of Dezhou Shihua hydrochloric acid is 200 yuan / ton, which is temporarily stable; the weekend quotation of Wenshui synthetic hydrochloric acid is 230 yuan / ton, which is temporarily stable compared with the beginning of the week; the weekend quotation of Jinan Yuanfei hydrochloric acid is 450 yuan / ton, which is temporarily stable compared with the beginning of the week; the weekend quotation of Dezhou Meihua hydrochloric acid is 50 yuan / ton, which is 10 yuan lower compared with the beginning of the week/ Tons.

（2） Industrial chain:

The upstream liquid chlorine market is generally weak in support of hydrochloric acid, while the downstream dyes, calcium chloride and chloroethane are still mainly purchased according to early demand. Hydrochloric acid market as a whole seems to be declining, and by-product acid is still hitting the market. The pressure of hydrochloric acid delivery is relatively high, and the quality of by-product hydrochloric acid produced by TDI, chloropropene, propylene oxide and methane chloride is relatively good. On the whole, the difficulty of hydrochloric acid delivery is still a big problem.

3、 Future forecast

The upstream liquid chlorine market is generally in the near future, while the downstream rare earth and fuel demand is weak. Business analysts believe that the recent low consolidation of hydrochloric acid.

1、 Price trend

2、 Market analysis

Mannheim potassium sulfate factory: about 2700 for 50% powder; about 2800-2850 for 50% particle and 52% water-soluble powder. Report station of potassium sulfate manufacturer in water salt system: 51-52% powder 3100-3150 in Xinjiang; 50% powder 2460 in Qinghai. After the price of Mannheim potassium sulfate in the northern market generally increased, the actual ex factory price of 52% of all water-soluble powder is about 2800 yuan / ton at present. Although there are not many deals, there are many manufacturers waiting to be sent, and there is no pressure. In the early stage of the Southern market, the price of 52% of all water-soluble powder has been stable, generally, the ex factory price is about 2800-2850 yuan / ton. Recently, some manufacturers have tentatively increased the price by about 150 yuan / ton, and there is no large order deal Support. For the time being, only three enterprises are producing potassium sulfate in the water salt system, and the price is still stable.

3、 Future forecast

According to analysts of potassium sulphate of the business association, the downstream demand is gradually improving, the sales of potassium sulphate manufacturers are not under too much pressure, and the demand of water-soluble fertilizer market in the later stage is still expected, so the resistance of the price of potassium sulphate to rise again may also be large, but there will be no worry about big fall in the short term.

1、 Price trend

According to the price monitoring of the business agency, the comprehensive price of potassium chloride is temporarily stable this week. This week, the average price of the mainstream comprehensive quotation of potassium chloride was 2175.00 yuan / ton, down 7.45% year-on-year compared with the same period last year. Overall, this week’s potassium chloride market was temporarily stable, with the potassium chloride commodity index at 69.05 on March 13.

2、 Market analysis

The quotation of mainstream potassium chloride manufacturers this week is temporarily stable: the weekly ex factory quotation of Qinghai Salt Lake potassium chloride is 2100 yuan / ton, which is temporarily stable compared with that at the beginning of the week; the weekend distribution quotation of Anhui Badu potassium chloride is 2250 yuan / ton, which is temporarily stable compared with that at the beginning of the week. This week, the actual transaction in the potassium chloride market is not good. On the whole, the main contradiction in the market is that the supply exceeds the demand, the trading atmosphere is cold, the downstream procurement is just in demand, the overall inventory is low, the purchasing market momentum is low, and the domestic potassium chloride market is stable.

3、 Future forecast

In the middle of March, the overall trend of potassium chloride market or low consolidation dominated. The market of potassium chloride is faced with three major pressures, namely, large stock, weak demand and downward international prices. Therefore, the main contradiction in the current market is that supply exceeds demand. According to analysts of KCl in business association, the short-term market of KCl is dominated by low consolidation under the influence of supply and demand and raw materials.

1、 Price trend

Price: the main quotation of GPPS is 8500-9900 yuan / ton, and that of hips is 9200-10900 yuan / ton.

2、 Market analysis

PS Market: the overall performance of the PS market is relatively flat, with some small losses. The downstream factory is limited in receiving goods, and the atmosphere of on-site trading is flat.

3、 Future forecast

The overall situation of PS transaction is not good, the downstream demand is still not improved, most factories still wait and see, and the actual delivery is not much. It is expected that PS market prices will generally stabilize, with some small declines.

On February 27, the ammonium nitrate commodity index was 125.26, the same as yesterday, a record high in the cycle, 61.90% higher than the lowest point of 77.37 on October 31, 2016. (Note: cycle refers to 2013-02-01 to now).

In February, the price trend of domestic ammonium nitrate Market remained high. Affected by the epidemic situation, some domestic ammonium nitrate manufacturers did not start their plants. In the near future, the supply of goods in the market was tight, and the domestic price trend remained high. In the near future, the market of ammonium nitrate manufacturers is general, and the downstream is purchased on demand. In the near future, the trend of downstream nitro compound fertilizer is stable. The domestic downstream civil explosive industry still stops production a lot, the domestic ammonium nitrate manufacturers have limited start-up, and the market price of ammonium nitrate remains high. Up to now, the mainstream of negotiation in Shaanxi is 2300-2400 yuan / ton, that in Shandong is 2300-2500 yuan / ton, and that in Hebei is 2400-2600 yuan / ton.

In February, the price of concentrated nitric acid in China fell slightly, down 2.02%. Jiangsu Hongze Yinzhu Chemical Co., Ltd. offers 1500 yuan / ton; Anhui Jinhe offers 1450 yuan / ton; Shandong helitai offers 1700 yuan / ton. Anhui Aodeli offers 1500 yuan / ton; Wenshui County synthetic chemical offers 1860 yuan / ton. In recent years, the domestic maintenance devices have been restarted continuously, the supply of concentrated nitric acid market has increased, and the situation of goods in the field is general. The price of ammonium nitrate Market in February is stable due to negative factors, and the price of raw material nitric acid has declined slightly, which is a negative impact on the ammonium nitrate Market.

The liquid ammonia Market in the upstream fell in February, down 5.53%. The market of liquid ammonia in China is slightly lower, with a slight decline in the northern region. Most manufacturers have reported a stable price, some of which are down to 100-150 yuan / ton. Some enterprises in Shandong, the main production area, have continuously lowered their prices, while the prices in the northwest region remain stable. At present, there is a surplus of local ammonia. In February, affected by the epidemic situation, the prices of liquid ammonia continue to decline, mainly because the dealers’ return to work rate is not high and the market has entered an empty space In the window period, it is generally closed down. In addition, poor transportation is the primary problem. Liquid ammonia transportation has also entered the bottleneck period. Long-distance high-speed transportation is limited and multiple factors are superimposed, resulting in the continuous weakness of liquid ammonia Market. The overall trend of the upstream liquid ammonia Market declined, while the price trend of ammonium nitrate Market was temporarily stable.

In the near future, the demand of the downstream civil explosive industry is general, and the market demand for ammonium nitrate is normal, but the market price of raw materials falls, and the market price of ammonium nitrate loses cost support. Ammonium nitrate analysts of the business association believe that the market price of ammonium nitrate may maintain high volatility in the later period.