I. Price trend

According to the commodity market analysis system of SunSirs, as of May 23, the average reference price of domestic urea market was 1,912 RMB/ton, which was 1.27% lower than the average reference price of 1,936 RMB/ton on May 19.

II. Market analysis

Market situation

The domestic urea market continued to fall this week. As of May 23, the urea market price in Shandong was around 1,850-1,920 RMB/ton, the urea market price in Hebei was around 1,880 RMB/ton, the urea market price in Henan was around 1,890 RMB/ton, the urea market price in Hubei was around 1,880 RMB/ton, and the urea market price in Liaoning was around 1,920-1,960 RMB/ton.

Supply and demand situation

In terms of supply, the urea market is currently well supplied and inventory is still high. On the demand side, downstream compound fertilizer companies just need to replenish stocks, and they are cautious in purchasing, waiting for the release of summer fertilizer demand.

3. Market Forecast

Urea analysts from SunSirs believe that the domestic urea market has been mainly on a downward trend recently. At present, the market demand is insufficient, and the downstream purchasing intention has weakened, waiting for industrial and agricultural demand to follow up. At present, the market is in a wait-and-see attitude, and it is expected that the domestic urea price will be weak in the short term.

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