SunSirs: On April 4th, the Domestic Urea Market Temporarily Stabilized
April 06 2023 11:15:07 SunSirs (John)
Price trend
The upstream Yangquan anthracite (wash, medium block) was about 1,510 RMB/ton, the price was temporarily stable, and the cost support was general.
Analysis review
From a demand perspective: Agricultural demand had weakened, while industrial demand was average. The operating rate of the compound fertilizer plant was stable, and the enthusiasm for urea procurement was normal. The starting situation of sheet metal and melamine enterprises was average, and procurement was mainly on demand. Affected by the mentality of buying up instead of buying down, there was a strong wait-and-see atmosphere in the downstream towards high priced urea. From a supply perspective, some enterprises had started to resume production, with daily urea production ranging from 160,000 to 170,000 tons.
Market outlook
Urea will fluctuate and fall slightly in the future.
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