Weak International Urea VS Rising Chinese Ammonium Sulfate.
India’s IPL secured over 1.5 million tons of urea in its November 20 tender, pushing global market sentiment further toward a strongly bearish outlook for urea.
In sharp contrast, China’s caprolactam-grade ammonium sulfate market continues to tighten. Since early November 2025, supply has remained constrained, driving prices steadily upward and keeping the market at historically high levels.
Today, several producers in northern China significantly increased their ex-factory prices to 1,200 RMB/ton (≈ 170 USD/MT EXW), up by 100 RMB/ton (≈ 14 USD/MT) compared with yesterday. Suppliers are showing a firm attitude toward holding prices, and some factories have even indicated that ex-factory prices may continue rising to around 1,250 RMB/ton (≈ 177 USD/MT) within the next 1–2 weeks, depending on market acceptance and supply dynamics.