Caprolactam Grade Ammonium Sulfate Market Update | China Supply Remains Firm
April 2026

🔷 Market Overview

The ammonium sulphate market remained generally stable during the week of April 3–9, 2026, with mixed price movements across different segments. Caprolactam grade ammonium sulphate prices continued to rise slightly, supported by tight supply and steady export demand, while coking-grade material showed weaker sentiment due to softer bidding activity.

In Shandong, coking ammonium sulphate prices reached around RMB 1,604/MT, up by RMB 6/MT week-on-week. Caprolactam grade ammonium sulphate was traded at RMB 1,745–1,800/MT, maintaining a high-level range.

🔷 Supply Situation

Supply remained relatively tight. Operating rates of caprolactam plants declined slightly to around 73%, mainly due to temporary maintenance shutdowns at several facilities. Meanwhile, coking plant operating rates stayed stable at approximately 75%.

Despite reduced output from some caprolactam producers, most manufacturers reported no inventory pressure, and shipments remained smooth.

🔷 Demand Analysis

Downstream demand showed cautious behavior. Due to high price levels, buyers mainly purchased on a just-in-time basis.

Compound fertilizer operating rates declined to 49.62%, down by 2.88 percentage points week-on-week. Demand from the agricultural sector weakened as the spring fertilizer season approached its end. Industrial demand remained stable but did not provide strong growth momentum.

Export demand from Southeast Asia and Mexico remained stable, while Brazil buyers showed resistance to high prices, leading to slower high-end transactions.

🔷 Export Market

FOB China caprolactam grade ammonium sulphate prices increased slightly to USD 274–279/MT. Granular ammonium sulphate prices also rose to USD 275–280/MT.

Although international prices moved upward, trading activity slowed at higher price levels due to cautious buying sentiment and geopolitical uncertainties.

🔷 Market Sentiment

Market sentiment weakened slightly during the week. While firm prices in the international urea market provided some support, uncertainty in the Middle East and export policy expectations led to reduced enthusiasm in spot bidding, especially for by-product ammonium sulphate.

Participants generally adopted a wait-and-see approach under high price conditions.

🔷 Market Outlook

In the short term, the ammonium sulphate market is expected to remain stable with narrow fluctuations.

Supply is likely to stay tight as caprolactam and coking plant operating rates remain steady. Demand is expected to be stable but cautious, with buyers focusing on essential purchases.

Key factors to watch include:
- Global fertilizer market trends and urea price movements  
- Export demand from Southeast Asia and Latin America  
- Changes in China’s export policies  
- Geopolitical developments affecting market sentiment  

Overall, caprolactam grade ammonium sulphate prices are expected to stay firm, while overall market activity may remain moderate.