Price trend
On October 9th, the domestic urea market temporarily stabilized.
Analysis review
The upstream Yangquan anthracite (washed medium block) was around 1,210 RMB/ton, with a temporarily stable price and average cost support.
From a demand perspective, agricultural demand had weakened, industrial demand is average, and urea exports were good. There was sporadic fertilization in agriculture. The operating rate of the compound fertilizer plant was average, and the enthusiasm for urea procurement was normal. Board and melamine enterprises generally started construction and mainly purchased on demand.
From a supply perspective: Some enterprises had stopped for maintenance, and their daily urea production was around 160,000-170,000 tons, indicating sufficient supply.
Market outlook
Urea will fluctuate downward slightly in the future.
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