1. Price trend

According to the commodity market analysis system of SunSirs, as of June 10, the average reference price of domestic urea market was 1,821 RMB/ton, compared with the average reference price of 1,892 RMB/ton on June 1, the domestic urea market price fell by 3.72%.

2. Market analysis

In early June, the domestic urea market price fell sharply. As of June 10, the urea market price in Shandong was around 1,730-1,900 RMB/ton, the urea market price in Hebei was around 1,760-1,910 RMB/ton, the urea market price in Henan was around 1,730-1,850 RMB/ton, the urea market price in Hubei was around 1,800 RMB/ton, and the urea market price in Liaoning was around 1,910-1,930 RMB/ton.

Supply and demand situation

In early this month, the domestic urea market was in oversupply. On the supply side, the urea market is currently well supplied and inventories remain high. On the demand side, the operating rate of downstream compound fertilizer enterprises has been reduced, and the demand for urea has weakened. Currently, the main demand is for replenishment.

3. Market Forecast

Urea analysts at SunSirs believe that the domestic urea market has been mainly downward in recent days. At present, the urea market is in oversupply, and downstream companies are mostly purchasing at low prices, and the market is bearish. There is no good news in the short-term market, and it is expected that the domestic urea price will continue to fall in the short term.

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