SunSirs: Domestic Urea Prices Temporarily Stabilized on August 18
August 19 2022 08:55:21 SunSirs (John)
Price trend
On August 18, the domestic comprehensive price of urea was temporarily stable at 2,356 RMB/ton, which was the same as the price on August 17, and was down 14.01% from the same period last year.
Analysis review
Upstream anthracite prices rose slightly, with better cost support. But the downstream demand was insufficient. Agricultural demand has basically ended, and industry is dominated by rigid demand. Compound fertilizer, sheet metal, and melamine plants do not have a high start-up load. From the perspective of the supply side, due to the impact of high temperature power cuts, some urea manufacturers have shut down for maintenance, and the daily output of urea is below 140,000 tons.
Market outlook
In the future, it is expected that the domestic urea market price may bottom out and the average market price will be around 2,400 RMB/ton.
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