SunSirs: Lack of Favorable News, Urea Market Prices Had Fallen (July 12-18)

https://www.chemnet.com   Jul 19,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 18th, the reference average price of domestic urea market was 2,385 RMB/ton, which was 2.37% lower than the reference average price of 2,443 RMB/ton on July 12th.

Analysis review

Market conditions

This week, the domestic urea market prices had been running weakly. As of July 18th, the ex factory price of urea in Shandong region was around 2,220-2,260 RMB/ton, in Hebei region it was around 2,260 RMB/ton, and in Henan region it was around 2,240 RMB/ton.

Supply and demand situation

In terms of supply, the urea market temporarily had a relatively sufficient supply, with oversupply being the main factor. In terms of demand, agricultural demand maintains essential procurement, while industrial demand was low. The operating rate and market situation of downstream compound fertilizers remained stable, and the demand for urea remained stable.

Market outlook

The urea analyst from SunSirs believes that the urea market had been temporarily weak and declining, with transaction prices approaching the lower end. And there was no positive news in the market, and the upward trend of urea was weak. It is expected that the domestic urea market prices will continue to weaken and consolidate in the short term.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

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