SunSirs: The Domestic Urea Market Was Running to Be Weaker (September 13-19)

https://www.chemnet.com   Sep 20,2024 SunSirs

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According to the Commodity Market Analysis System of SunSirs, as of September 19th, the reference average price of the domestic urea market was 2,165 RMB/ton, a decrease of 0.18% from the reference average price of 2,169 RMB/ton on September 13th.

Analysis review

Market conditions

Recently, the domestic urea market prices have fallen. As of September 19th, the ex factory price of urea in Shandong region was around 1,820-1,855 RMB/ton, in Hebei region it was around 1,860 RMB/ton, in Henan region it was around 1,840 RMB/ton, and in Hubei region it was around 1,850 RMB/ton.

Supply and demand situation

This week, the urea market was oversupplied. In terms of supply, the urea market had ample supply this week. In terms of demand, downstream demand was mainly driven by rigid needs. Purchasing was relatively cautious, with low price transactions being the main focus in the market. The demand for autumn fertilizer market needed to be released.

Market outlook

The urea analyst from SunSirs believes that the urea market had been experiencing a narrow downward trend recently, with a small number of transactions in the market. As of September 19th, the urea market had strong supply and weak demand, and downstream buyers were seeking lower prices, so demand needed to be improved. It is expected that in the short term, the domestic urea market price will be consolidated to be weaker.

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