SunSirs: On February 22, the Domestic Urea Price Rose by 0.51%
February 23 2023 13:39:46 SunSirs (John)
Price trend
On February 22, the comprehensive price of domestic urea was 2,785 RMB/ton, a slight increase of 14 RMB/ton from February 21, up 0.51%, and up 4.54% year-on-year.
Analysis review
The upstream Yangquan anthracite (washing medium lump) was about 1,630 RMB/ton, the price was temporarily stable, and the cost support was average.
In terms of demand, agricultural demand increased slightly, while industrial demand increased. The operating rate of compound fertilizer plants had gradually increased, and the enthusiasm for urea procurement increased. The plate and melamine enterprises’ start were general, mainly purchase in needed.
From the perspective of supply, some gas-head enterprises began to resume production, with a daily urea output of about 150,000 to 160,000 tons.
Market outlook
It is expected that the domestic urea market price will rise slightly in shock in the future, with the average market price of about 2,800 RMB/ton.
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