On November 13, domestic ammonium sulphate prices fell under pressure, with Shandong caprolactam-grade quoted at 1200-1220 yuan/t. Export offers were 210-215 dollars/t FOB as international urea weakened and Brazilian demand wound down.
Caprolactam and coking plant utilization dropped, and compound fertilizer operating rates fell to about 24%.
Weaker international urea and reduced Brazilian demand point to oversupply in nitrogen fertilizers, which tends to ease input costs for feed producers. The effect is limited to the fertilizer sector and is not a major feed commodity driver.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.