SunSirs: Domestic Urea Market Fell First and then Rose (August 6-August 14)

https://www.chemnet.com   Aug 15,2024

Price trend

According to the commodity market analysis system of SunSirs, as of August 13, the reference average price of domestic urea market was 2,293 RMB/ton, compared with the reference average price of 2,309 RMB/ton on August 6, the domestic urea market price fell by 0.69%.

Analysis review

Market situation

This week, the domestic urea market price fell first and then rose. As of August 13, the ex-factory price of urea in Shandong region was around 2,090-2,120 RMB/ton, the ex-factory price of urea in Hebei region was around 2,100 RMB/ton, the ex-factory price of urea in Henan region was around 2,130 RMB/ton, and the ex-factory price of urea in Guangdong region was around 2,280 RMB/ton.

Supply and demand situation

In terms of supply, the supply of urea market this week decreased compared with last week, and the current supply and demand are relatively balanced. In terms of demand, agricultural and industrial demand still maintains the main demand purchase. Downstream compound fertilizer operating rates and market conditions are stable, and urea purchases are relatively cautious.

Market outlook

Urea analysts at SunSirs believe that the urea market has risen slightly recently, and the market is relatively optimistic. With the steady increase in demand, it is expected that the domestic urea market price will fluctuate and rise in the short term.

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