I. Price trend

According to the commodity market analysis system of SunSirs, as of July 24, the domestic urea market reference average price was 1,832 RMB/ton, compared with the market reference average price of 1,825 RMB/ton on July 17, the domestic urea market price rose by 0.41% this week.

II. Market analysis

Market situation

This week, the domestic urea market price rose first and then fell. At the beginning of this week, the downstream purchasing intention improved, and the trading atmosphere in the urea market improved. Manufacturers mainly supported prices, and the domestic urea market price rose. Starting from Wednesday, the futures market cooled down, and the urea market was still dominated by oversupply, so the urea price began to fall. As of July 24, the urea market price in Shandong was around 1790-1830 RMB/ton, the urea market price in Hebei was around 1790 RMB/ton, the urea market price in Henan was around 1780-1830 RMB/ton, the urea market price in Hubei was around 1800 RMB/ton, and the urea market price in Liaoning was around 1780 RMB/ton.

Supply and demand

In terms of supply, some enterprises had equipment maintenance this week, and the daily output decreased, but the urea market supply was still sufficient. In terms of demand, the fertilizer preparation situation in autumn has improved. Compound fertilizer manufacturers replenished stocks on demand, and the demand for raw material procurement increased.

3. Market Forecast

Urea analysts from SunSirs believe that the domestic urea market has been weak and falling in recent days. Manufacturers are mainly holding prices, but market inventories are still high, and the futures market is not doing well. It is expected that the domestic urea price will be weak and consolidated in the short term.

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