SunSirs: On November 23rd, the domestic urea market temporarily stabilized

https://www.chemnet.com   Nov 24,2023 SunSirs

　　Price trend

　　On November 23rd, the domestic urea market temporarily stabilized.

　　Analysis review

　　The upstream Yangquan anthracite (washed medium block) was around 1,110 RMB/ton, with low price consolidation and average cost support.

　　From a demand perspective: Agricultural demand had weakened, industrial demand was average, and urea exports were not favorable. Agriculture had entered the off-season. The operating rate of compound fertilizer plants had decreased, and the enthusiasm for urea procurement had weakened. Board and melamine enterprises start construction commonly and mainly purchased on demand.

　　From a supply perspective, some enterprises had completed maintenance, and daily urea production had further increased, resulting in sufficient supply.

　　Market outlook

　　Supply exceeds demand, and urea will experience a slight fluctuation and decline in the future.

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