SunSirs: On March 22, the Domestic Urea Market Temporarily Stabilized
March 23 2023 13:12:47 SunSirs (John)
Price trend
On March 22, the domestic urea market temporarily stabilized
Analysis review
The upstream Yangquan anthracite (washed medium lump) was around 1,510 RMB/ton, the price was temporarily stable and the cost support was general.
In terms of demand, agricultural demand increased slightly, while industrial demand was better. The operating rate of compound fertilizer plants had gradually increased, and the enthusiasm for urea procurement had increased. Board and melamine enterprises start construction was general, the procurement was mainly based on demand. However, there was a strong wait-and-see atmosphere for high-priced urea in the downstream.
From the perspective of supply, some gas head enterprises started to resume production, with a daily urea output of around 160,000-170,000 tons.
Market outlook
Urea will fall slightly in the future.
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