Analysis: On November 6th, at the beginning of the week, liquid ammonia in Shandong continued its upward trend last Friday. According to the Commodity Market Analysis System of Business Society, the daily increase in the main production area of Shandong was 1.69%. The main reason is the continuation of tight supply. Mainly due to short-term malfunctions in the manufacturer’s equipment, partial shutdowns, and delayed supply. On Monday, large factories in Shandong and surrounding Hebei generally raised prices by 100 yuan/ton. The dealer’s offer keeps up. In addition, downstream urea spot prices have been strongly affected by futures, resulting in strong performance, coupled with tight supply, and production restrictions in the Shanxi region. From a terminal perspective, agricultural demand follows up in a timely manner, while industrial demand is mainly supported by demand. However, there are not many new export orders, which may become a limiting factor for the rise of liquid ammonia in the later stage. At present, the mainstream quotation in Shandong region is between 3900-4000 yuan/ton.

Prediction: It is expected that the equipment of northern liquid ammonia enterprises will recover in the near future, and the downstream industrial demand will be average. In the short term, liquid ammonia may not have enough momentum to push up, and the possibility of a high price drop cannot be ruled out.