Symposium on Ammonium Sulfate and Downstream Processing Industry in ChinaFrom February 28 to 29, 2024, it was held in Longzhong, Nanjing. Relying on the export data of China's ammonium sulfate products in 2023, it reached a new high of 13.78 million tons, an increase of 10.73 percent over the same period last year. Industry personnel were enthusiastic about participating in the meeting. Ms. Qi Ruiling, a representative of our company, participated in the meeting, and many industry experts and representatives attending the meeting had in-depth discussions and exchanges.

At the meeting, Professor Hu Zhepeng from the School of Economics and Management of China Agricultural University and the China Futures and Financial Derivatives Research Center analyzed the agricultural development plan and nitrogen fertilizer demand analysis during the "14th Five-Year Plan" period:

The conflict between Russia and Ukraine has brought changes to the international urea market. Russia's urea exports have not decreased but increased. At the same time, the trade flow has also changed, and the export flow to Europe, Africa and India has increased. Ukraine's production is blocked, exports are stagnant, and more of the need to rely on imported urea. After the new production capacity of 5 million tons in the Indian market, the import demand decreased. The biggest variable in the current market is still the restart time of China's urea law inspection, and we continue to pay attention to it.

Liu Qing, a senior analyst at Longzhong Information, reviewed the supply market in 2023 from the perspective of "ammonium sulfate supply is in full bloom and export demand is in full swing". At present, a variety of process manufacturers co-produce ammonium sulfate, with a significant increase in supply. In 2024, caprolactam plans to add 1.34 million tons of new capacity. The expansion of coking enterprises is not obvious, most of them are capacity replacement, and the basic change of output is not obvious. The market demand for extruded particles increases and the market voice increases. But the market price of ammonium sulfate fluctuates more frequently.

Under the influence and interweaving of many industry information, the supply and price changes of ammonium sulfate are still unpredictable. In 2024, Juyuan Petrochemical will still pay attention to and integrate industry information and resources in a timely and efficient manner to provide more professional services to customers at home and abroad.