Price trend

According to the Commodity Market Analysis System of SunSirs, as of May 9th, the reference average price of domestic urea market was 1,921 RMB/ton, which was 2.49% higher than the reference average price of 1,875 RMB/ton on May 5th.

Analysis review

Market conditions

Last week, the domestic urea market showed a strong upward trend. As of May 9th, the urea market prices in Shandong were around 1,840-1,940 RMB/ton, Hebei was around 1,870-1,970 RMB/ton, Henan was around 1,850-1,910 RMB/ton, Hubei was around 1,850-1,930 RMB/ton, and Liaoning was around 1,860-1,910 RMB/ton.

Supply and demand situation

In terms of supply, the urea market had sufficient supply last week, and inventory pressure was still present, with stable shipments from enterprises. In terms of demand, the market transaction atmosphere was good last week, and downstream demand was still following up. But after continuous increases, the downstream cautious mentality had increased.

Market outlook

The urea analyst from SunSirs believes that the domestic urea market trend has been improving recently. As of May 9th, the urea market was experiencing smooth shipments and good market trading, awaiting the release of export news. It is expected that the domestic urea market prices will remain strong in the short term.

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