For the Quarter Ending September 2025
North America
• In the USA, the Ammonium Sulphate Price Index fell by 18.91% quarter-over-quarter, reflecting oversupply pressure.
• The average Ammonium Sulphate price for the quarter was USD 397.33/MT FOB-Illinois, reflecting stable supply.
• Ammonium Sulphate Spot Price weakness was driven by ample inventories and subdued agricultural purchasing lull.
• Ammonium Sulphate Price Index volatility eased as imports and domestic output balanced availability across distribution.
• Ammonium Sulphate Production Cost Trend showed limited passthrough from higher ammonia costs due to sourcing.
• Ammonium Sulphate Demand Outlook remains neutral with industrial steadiness offsetting weaker seasonal agricultural offtake.
• Ammonium Sulphate Price Forecast points to sideways-to-mildly lower trajectory absent major feedstock or weather disruptions.
• Ammonium Sulphate Price Index pressure intensified from competitive pricing and limited export demand internationally.
Why did the price of Ammonium Sulphate change in September 2025 in North America?
• Sustained domestic production and import arrivals created oversupply, pressuring September Ammonium Sulphate Price Index downward.
• Seasonal lull after spring planting reduced agricultural offtake, leaving inventories ample and limiting price momentum.
• Logistics remained functional with no disruptions, enabling distribution and preventing localized tightness that might hike prices.
APAC
• In South Korea, the Ammonium Sulphate Price Index rose 5.59% quarter-over-quarter, driven by redirected volumes.
• The average Ammonium Sulphate price for the quarter was approximately USD 182.67/MT Ex- Daejeon across distribution hubs.
• Ammonium Sulphate Spot Price trended with port logistics and ammonia feedstock cost shifts impacting offers.
• Ammonium Sulphate Production Cost Trend rose, with freight surcharges and firmer ammonia lifting input costs.
• Ammonium Sulphate Demand Outlook remains subdued seasonally, with steady industrial consumption but lower agricultural restocking.
• Ammonium Sulphate Price Forecast sees near-term rangebound movement, contingent on shipping and export enquiry recovery.
• Elevated inventories and steady domestic output tempered Ammonium Sulphate Price Index volatility despite export fluctuations.
Why did the price of Ammonium Sulphate change in September 2025 in APAC?
• Easing export demand and competitive regional offers pressured FOB levels, reducing immediate buy-side urgency significantly.
• Stable domestic inventories and smooth shipments lowered near-term scarcity, dampening Ammonium Sulphate Price Index momentum.
• Freight surcharges earlier increased input costs, but subsequent easing and softer demand reversed upward pressure.
Europe
• In Germany, the Ammonium Sulphate Price Index rose by 0.5% quarter-over-quarter, reflecting tighter supply conditions.
• The average Ammonium Sulphate price for the quarter was approximately USD 269.33/MT FOB-Hamburg, supporting supplier margins.
• Ammonium Sulphate Spot Price showed intra-quarter volatility as river transport and port congestion disrupted deliveries.
• Ammonium Sulphate Production Cost Trend edged upward from higher energy and intermittent sulphur supply constraints.
• Ammonium Sulphate Demand Outlook improved in September as autumn applications and compliance-driven buying accelerated restocking.
• Ammonium Sulphate Price Forecast indicates upside pressure into Q4 amid tighter inventories and logistical risks.
• Ammonium Sulphate Price Index readings shifted from August stability toward September firmness as buyers procured.
• Inventories tightened at key German terminals while inland waterway issues and port queues limited availability.
Why did the price of Ammonium Sulphate change in September 2025 in Europe?
• Seasonal autumn buying increased farmer restocking ahead of applications, tightening availability and supporting upward price momentum.
• River low water and port congestion constrained inland logistics, increasing distribution costs and limiting cargo availability.
• Volatility in sulphur and ammonia feedstock, plus rising energy costs, exerted upward pressure on production economics.
For the Quarter Ending June 2025
North America
• The Ammonium Sulphate Spot Price Index in North America followed a bearish trend throughout Q2 2025, declining marginally amid weak seasonal demand and cautious buyer sentiment.
• Despite rising upstream Ammonia prices at times, the impact on Ammonium Sulphate remained muted due to balanced inventory and diversified sourcing strategies by producers.
• Supply-side fundamentals remained stable, aided by smooth plant operations, eased logistical bottlenecks, and consistent import volumes.
• Demand from the fertilizer sector slowed post-spring season, while industrial applications offered modest support amid broader market uncertainty.
• New trade policies, like “Liberation Day” tariffs, introduced volatility in trade flows and fostered a wait-and-see approach among market players.
Why did the price of Ammonium Sulphate change in July 2025 in the US?
• In July 2025, the Ammonium Sulphate Price Index remained stable, extending the trend seen in early summer as market fundamentals held steady.
• The Ammonium Sulphate Production Cost Trend was largely unaffected by upstream Ammonia fluctuations, thanks to adequate feedstock availability and operational stability.
• The Ammonium Sulphate Demand Outlook showed restrained but consistent interest, with subdued agricultural activity due to extreme weather balanced by resilient industrial demand and export interest.
• The Ammonium Sulphate Price Forecast suggests continued price stability in the near term, barring any major changes in raw material cost or global nitrogen market disruptions.
APAC
• The Ammonium Sulphate Spot Price Index in South Korea remained broadly stable through Q2 2025, averaging between USD 192–194/MT, reflecting a market in equilibrium.
• April and June closed at USD 192/MT, while May saw a slight uptick to USD 194/MT, driven by marginal increases in freight and compliance costs.
• Inventory levels remained comfortable, aided by consistent imports, smooth port logistics, and a stronger Korean won, which reduced import cost burdens.
• Demand from the agricultural and industrial sectors was steady, but transshipment activity to Southeast Asia gradually slowed post-peak planting season.
• Operating rates at major producers like Capro Corporation and POSCO Chemical remained high, ensuring ample supply and preventing upward price pressures.
Why did the price of Ammonium Sulphate change in July 2025 in Asia?
• In July 2025, the Ammonium Sulphate Price Index in South Korea remained stable, continuing the subdued pricing trend observed in previous months.
• The Ammonium Sulphate Production Cost Trend was steady, supported by a stronger won and consistent shipment flows, which kept logistics costs in check.
• The Ammonium Sulphate Demand Outlook remained muted but stable, as downstream buyers maintained sufficient inventories and adhered to contractual procurement.
• The Ammonium Sulphate Price Forecast indicates further price stability, with no major supply shocks or demand surges expected in the near term.
Europe
• The Ammonium Sulphate Spot Price Index in Europe declined steadily through Q2 2025, falling from USD 279/MT in April to USD 258/MT in June, reflecting sustained bearish pressure.
• The price trend was driven by weak seasonal demand, ample domestic supply, and logistical backlogs at key ports like Rotterdam, Hamburg, and Antwerp.
• Despite supportive cost factors—such as declining ammonia prices and favorable domestic production conditions—buying interest remained muted, particularly in the post-spring planting lull.
• Suppliers operated at high utilization rates, and inventory levels remained well-stocked, contributing to oversupply and reduced urgency in spot procurement.
• Shifts in fertilizer preference toward nitrate-based products and subdued economic signals across the Eurozone further contributed to market caution.
Why did the price of Ammonium Sulphate change in July 2025 in Europe?
• In July 2025, the Ammonium Sulphate Price Index in Europe stabilized, following a brief increase in the prior period and reflecting a more balanced supply-demand dynamic.
• The Ammonium Sulphate Production Cost Trend remained steady, supported by flat ammonia costs and sufficient raw material inventories across domestic producers.
• The Ammonium Sulphate Demand Outlook remained soft, with subdued domestic inquiries and only moderate international interest, particularly from the U.S. and Southeast Asia.
• The Ammonium Sulphate Price Forecast suggests limited volatility in the near term, as strong production and port congestion-driven inventory buildup counteract upward momentum.
For the Quarter Ending March 2025
North America
In Q1 2025, the Ammonium Sulphate prices in the USA saw a steady upward trend, driven by tight supply and strong seasonal demand. Despite volatility in Ammonia feedstock costs, prices stayed elevated due to production cuts from extreme winter weather. Force majeure declarations by key producers like OCI Beaumont LLC and CF Industries, along with freight disruptions, limited domestic availability. Agricultural demand also picked up as farmers stockpiled ahead of spring planting, especially for crops such as rice and sorghum.
However, irregular weather patterns, including drought concerns and planting delays, led to cautious buying later in the quarter. On the global front, reduced output from Europe and China, coupled with speculation over potential fertilizer tariffs, added to the market’s uncertainty.
This combination of factors—weather-related supply constraints, logistical hurdles, and shifting agricultural sentiment—shaped a price environment marked by upward pressure and cautious optimism throughout the quarter. The overall market reflected a delicate balance between demand recovery and supply limitations.
APAC
The Asian Ammonium Sulphate market witnessed notable volatility during the first quarter of 2025, marked by an initial price decline followed by a recovery and sustained upward trend in subsequent months. At the beginning of the quarter, market prices declined primarily due to improved supply dynamics. Several domestic producers across the region, particularly in China, resumed operations after scheduled maintenance shutdowns, which led to a gradual recovery in production capacities and higher operating rates. As a result, the overall availability of Ammonium Sulphate in the market increased substantially. However, this surge in supply coincided with subdued demand from key downstream sectors, especially the fertilizer and chemical industries. The mismatch between rising supply and lagging demand led to inventory accumulation and exerted downward pressure on prices. Toward the latter part of the quarter, market sentiment shifted positively as domestic restocking activity gained momentum. Increased procurement ahead of the spring agricultural season, particularly in China, supported the recovery in demand and contributed to the rebound and stabilization of prices across the region.
Europe
The European Ammonium Sulphate market exhibited a mixed pricing trend during the first quarter of 2025, shaped by varying supply-demand dynamics and cost pressures. Prices declined in January, primarily due to weak consumer demand across the region. End-users in the fertilizer and chemical sectors were hesitant to procure large volumes, leading to limited market activity and downward pressure on prices. However, as the quarter progressed, the market witnessed a gradual recovery. By February and March, demand picked up noticeably, supported by restocking efforts in preparation for the spring planting season. This seasonal uptick in agricultural activity significantly boosted domestic consumption. Concurrently, on the supply side, the cost of production rose due to a shortage and elevated prices of feedstock Ammonia, thereby exerting upward pressure on Ammonium Sulphate prices. The combination of rising input costs and improving demand fundamentals supported a sustained price increase during the latter part of the quarter. Additionally, growing international demand—particularly from Latin American countries—further strengthened the European market, contributing to the observed price rally.
For the Quarter Ending December 2024
North America
In the final quarter of 2024, North American Ammonium Sulphate prices displayed significant volatility. Prices dropped sharply during the first two months of the quarter, reaching USD 381/MT by November. This decline was driven by steady production levels in the U.S., leading to an oversupply of Ammonium Sulphate. Demand from the agricultural sector remained weak, as many farmers delayed their purchases, anticipating further price drops despite the harvest season.
In addition, to this, labor negotiations with the International Longshoremen’s Association (ILA) created uncertainties at U.S. ports, causing shippers to avoid some major ports of USA due to the risk of disruptions. This further strained the supply chain and added to the market volatility.
However, by December 2024, prices saw a slight 3% increase. This rise was attributed to higher Ammonia prices, increased production rates, and a surge in domestic demand. Despite this recovery, the market remains volatile, with ongoing supply chain challenges and labor uncertainties continuing to impact Ammonium Sulphate pricing dynamics.
Asia - Pacific
In Q4 2024, the price of Ammonium Sulphate experienced a substantial increase in the Asian market, with China and South Korea being the most significantly impacted regions. The surge in prices was primarily driven by strong international demand, particularly from India, which exerted pressure on supply levels. In China, logistical challenges, including severe port congestion at Shanghai and Ningbo, heavy rainfall, and rising freight costs, intensified the price hike. Vessel bunching and extended waiting times further disrupted supply chains, aggravating market tightness. Compounding the situation, adverse weather conditions, such as typhoons in China and flooding in South Korea, led to production disruptions across the southern Asia-Pacific region. Several manufacturing plants were forced to declare force majeure due to excessive rainfall, resulting in a reduction in production output and a significant shortage of Ammonium Sulphate. The combination of these supply constraints, continued international demand, and moderate domestic consumption created a pronounced supply-demand imbalance, sustaining the upward trend in Ammonium Sulphate prices throughout the region.
Europe
European Ammonium Sulphate prices have experienced a decline due to weak demand from key sectors such as agriculture, compounded by oversupply conditions and logistical disruptions. Despite rising Ammonia feedstock costs and supply constraints, including the shutdown of a Norwegian gas platform, production levels have been curtailed. However, ample inventories continue to exert downward pressure on prices. In the UK, a notable price surge occurred in December 2024, primarily driven by supply chain disruptions and delays in exports from significant European suppliers. Despite this, buyer interest remained inconsistent, with fluctuating weather conditions playing a role in shaping demand patterns. In both Europe and the UK, demand has remained weak, with the agricultural sector showing cautious purchasing behavior. This is further exacerbated by uncertainties surrounding the upcoming winter planting season and ongoing logistical issues, such as port congestion. These dynamics highlight a market under strain, where supply is outpacing demand, and economic factors like high input costs and unpredictable weather continue to influence future price trends.
