Price trend
According to SunSirs' commodity price analysis system, as of January 16th, the average reference price of urea in the domestic market was 1,767 RMB/ton, an increase of 1.29% compared to the average reference price of 1,745 RMB/ton on January 12th.
Market Analysis
Market Situation
Last week, domestic urea market prices showed a strong upward trend. As of January 16th, urea market prices in Shandong province were around 1,730-1,770 RMB/ton, in Hebei province around 1,760 RMB/ton, in Henan province around 1,720-1,760 RMB/ton, in Hubei province around 1,720-1,750 RMB/ton, and in Liaoning province around 1,740-1,790 RMB/ton.
Supply and Demand Situation
Last week, both the supply and demand for urea increased. On the supply side, some urea plants resumed production, leading to a slight increase in daily output, resulting in ample supply. On the demand side, downstream compound fertilizer manufacturers increased their restocking orders, leading to an increase in new order transactions in the market.
Market outlook
According to analysts at SunSirs, the urea market has recently shown a strong upward trend. Both supply and demand for urea have increased, leading to a generally optimistic market sentiment. It is expected that domestic urea prices will continue to consolidate with a stronger trend in the short term.
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