Ammonium Sulfate Weekly Market Report — Week Ending 17 September 2026

Chinese standard ammonium sulfate firmed this week, breaking a run of flat assessments. Standard caprolactam-grade material was assessed at $195-205/t fob, up from $195-200/t. Compacted ammonium sulfate rose to $210-225/t fob.

The move was small in absolute terms but worth reading carefully, because of why it happened. This was not demand pulling the market up. It was supply failing to meet it.

The headline numbers

The upward move in the export assessment was attributed to two things: limited cargo availability and rising international urea prices. Those are worth separating, because they behave differently.

Urea strength lifts the whole nitrogen complex and can persist or reverse with the urea market. Limited availability is a structural condition on the ammonium sulfate side, and it does not resolve until new supply enters — which in China means new export allocations.

Supply: southern producers are sold out

The availability picture is the core of this week’s story.

Southern Chinese producers have largely exhausted their allocated export volumes for the current round. Northern producers are still holding and offering some cargoes, but at around $200/t fob and in limited volumes. Across the board, export offers remain scarce.

For buyers, this has a direct practical consequence. In the current window, a competitive price that cannot be allocated is worth less than a higher price that ships on time. The question to resolve with any supplier is not just the number, but whether the tonnage is genuinely available for your window.

Export policy: the 15 September deadline and what it actually changed

Two procedural points are worth clarifying, because they have been widely misunderstood in the market.

The 15 September shipment deadline has passed — but that does not mean exports stopped. Non-self-regulated enterprises that had already received CIQ approvals before the deadline are still able to load and export cargoes. The practical limitation is not the rules; it is that most of those enterprises have already sold the bulk of their volumes.

The second round of export allocations is still unconfirmed. Participants expect an announcement by the end of September, but nothing official has surfaced. That expectation is now the single largest variable in the market — it determines whether supply loosens or stays tight into the fourth quarter.

There is a second, narrower question attached to it: whether steel-grade ammonium sulfate producers will be eligible to export once the second round is released. That has not been settled. If you buy steel-grade material, confirm export eligibility before you commit, not after.

What actually traded

Reported transactions this week give a clearer read than the assessment ranges alone:

• 5,000t standard amsul at around $195/t fob for October shipment to Brazil — the clearest read on where standard material clears for the Brazilian market.
• 6,000t MMA-grade at $160/t fob for November shipment to southeast Asia.
• 8,000t LFP-grade at $180/t fob for October shipment to southeast Asia.
• 5,000-10,000t compacted at $220-225/t fob for October shipment to Brazil, with a southern supplier separately selling at $210/t fob.

The spread across grades is the important detail here. MMA-grade at $160/t and standard caprolactam-grade at $195-205/t are not competing for the same buyer — the specification and production source determine which price applies to you. Treating “ammonium sulfate” as a single commodity with a single price is the most common error in this market.

Domestic China: the reference that explains the export price

Domestic values firmed on export demand, which gives a useful read on the floor under export pricing.

• Shandong caprolactam-grade: ¥1,220/t ex-works, equivalent to roughly $198/t fob — up from ¥1,210/t.
• Shanxi steel-grade: ¥920/t ex-works, equivalent to about $188/t fob for compacted material.
• Inner Mongolia / Ningxia steel-grade: ¥790/t ex-works, about $169/t fob for compacted.
• Shandong MMA-grade: ¥965/t ex-works, about $160/t fob.
• Caprolactam operating rates around 69%.

The Shandong figure is the one that matters for standard export pricing. Domestic ex-works equivalent at roughly $198/t fob sits essentially level with the export assessment of $195-205/t. That tells you there is very little allocation premium embedded in the ammonium sulfate export price — which is exactly why ammonium sulfate does not react to quota news the way urea does.

Compactors were actively procuring steel-grade material for compaction, driven by strong Brazilian demand for compacted product. That is the mechanism behind the firming steel-grade prices in Shanxi and the northwest.

Destination markets

Brazil — Compacted assessed at $250-260/t cfr, with material mostly trading at $250-255/t cfr across ports. Offers at $260/t cfr were finding no takers. Tight availability and the unresolved China export outlook are the support; business concluded was lower than the previous week.

Southeast Asia — Standard indicated at $225-235/t cfr. Demand was muted, with buyers stepping back as the nitrogen application season nears its end. Rising freight costs were also deterring fresh purchases. Freight from China to southeast Asia was indicated at low-mid $40s/t for a 6,000-8,000t vessel and $37/t for 10,000t. Note the volume sensitivity — parcel size moves the freight number materially.

India — Importer Fact’s 28 August tender for up to 600,000t of caprolactam-grade ammonium sulfate under a two-year supply arrangement has four valid offers remaining from an original eight, with four rejected. Bids are structured as a variable discount or premium against the average of the previous four weeks’ published standard caprolactam-grade fob China assessments. Offer validity was extended to 19 September, but awards have not yet emerged. This tender is a live watch item — it is large enough to absorb significant volume.

Malaysia — An importer received an offer of 10,000-12,000t standard caprolactam-grade at around $240/t cfr Klang for October loading.

Europe — Standard assessed at €270-275/t fob northwest Europe, granular at €330-350/t fob northwest Europe. Standard firmed slightly on concluded sales to the UK at €275/t fob, with small truckloads at €285/t fca. A producer sold 3,000t to Germany and 4,000t to the UK, likely October shipment. Chinese compacted is on offer at €350-360/t fca northwest European ports, inclusive of duties, with at least three trading firms each set to bring a panamax cargo in coming months — around 200,000t total. Even producers expect a tight fourth-quarter balance with Domo out of the market.

Turkey — Demand picking up. Standard offered at $260/t cfr, compacted spanning $270-290/t cfr.

East Africa — Chinese standard indicated around $240-250/t cfr, but no buying interest at these levels.

South Africa — Stable at $255-270/t cfr. Tight availability and Chinese export restrictions have limited activity; no fresh offers reported.

Mexico — An importer is in the market for around 30,000t of standard and compacted material for east coast delivery. Worth noting the demand driver: although urea is a cheaper nitrogen source, some cash crops require ammonium sulfate specifically for its sulphur content. That is a demand base that does not disappear when urea is cheap.

US — A burst of buying lifted Nola barge prices from $320-340/st fob early in the week to $350-375/st fob for Q3/Q4 loading. Reduced import volumes and Advansix’s withdrawn offers tightened availability. Front-month corn futures reached $5.36/bushel, the highest since July 2023, supporting demand.

Where this leaves buyers

Confirm allocation, not just price. In a supply-constrained market, the binding constraint is tonnage availability for your loading window. Settle that first.

Watch the end-September allocation announcement. It is the pivot for fourth-quarter supply. If the second round comes in at volume and includes steel-grade eligibility, the current tightness — and the price support it provides — could ease. If it is delayed or restricted, the opposite.

Qualify your grade against your application. The $160/t to $225/t spread across this week’s reported business reflects genuinely different products serving different end uses. Match the specification and the production source to what your process needs, and verify the lot COA against it. Our production source guide sets out how the routes differ.

Treat CFR numbers as volume-dependent. Freight this week ranged from $37/t to the mid-$40s/t depending on parcel size alone. Any CFR figure is only meaningful against a specific parcel and routing.

Keep shipment windows flexible. With the allocation round unresolved, loading schedules remain subject to allocation availability. Build that into your downstream commitments.

On pricing in this article. The figures above are indicative market assessment levels for the grades referenced, drawn from our own market monitoring. They are not offers and do not represent a quotation for any specific parcel, origin or shipment window. Ammonium sulfate prices vary with grade, production source, packaging, parcel size, destination and freight, and are quoted per inquiry and confirmed in the sales contract.