Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 14th, the reference average price of domestic urea market was 1,838 RMB/ton, which was 0.42% higher than the reference average price of 1,834 RMB/ton on July 7th.

Analysis review

Market conditions

The domestic urea market continued to rise and then stopped rising and fell. This week, due to higher than expected printing prices, the optimism in the nitrogen fertilizer market increased, boosting the domestic urea market and causing urea prices to rise. The urea market had seen a rise in trading volume and increased trading volume. Due to the decline in urea futures prices over the weekend, the urea spot market prices had fallen. As of July 14th, the urea market prices in Shandong were around 1,780-1,835 RMB/ton, Hebei was around 1,760-1,810 RMB/ton, Henan was around 1,780-1,840 RMB/ton, Hubei was around 1,810 RMB/ton, and Liaoning was around 1,870 RMB/ton.

Supply and demand situation

This week, the supply and demand of the domestic urea market remained stable. On the supply side, some companies underwent equipment maintenance this week, resulting in a decrease in daily production, but the supply of urea in the market remained loose. In terms of demand, downstream essential fertilizer preparation was the main focus. As of July 14th, compound fertilizer manufacturers were following up on demand and were cautious about raw material procurement.

Market outlook

The urea analyst from SunSirs believes that the recent trend of the domestic urea market stopped rising and fell. Market inventory remained high, coupled with the weakening of the futures market, downstream purchasing enthusiasm had weakened. It is expected that in the short term, the domestic urea price will be consolidated and weaker.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.