Commodity name: Urea

The latest price (April 22): 2,153.33 RMB/ton

Spot price:

According to the price monitoring of SunSirs, the average ex-factory price of urea in Shandong on April 22 was 2,153.33 RMB/ton, which was an increase of 0.15% from previous day's quotation.

Futures market:

Urea UR2107 closed in 2,097 RMB/ton on April 22, up 2.89% from the previous trading day, and the settlement price was 2,085 RMB/ton; open interest was 100.8 million lots.

Analysis review

The upstream liquid ammonia market has a recent upward trend, and the cost support is relatively good.

In terms of demand: agricultural demand is mostly sporadic procurement; downstream compound fertilizer and rubber sheet plants have increased slightly, and most of them follow the market.

On the supply side: At present, the urea enterprise equipment is overhauled, and the supply side is tightened.

The operating rate of urea enterprises is about 70%, which has declined, and the daily output has dropped to less than 150,000 tons.

Market outlook

Looking at the market outlook, the supply of urea is slightly insufficient, but demand has risen. It is expected that the short-term urea market will rise slightly, and the average price quoted by manufacturers will be around 2,170 RMB/ton.

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