SunSirs: On May 23rd, the Domestic Urea Market Declined
May 24 2023 14:02:00 SunSirs (John)
Price trend
On May 23rd, the domestic urea market declined slightly.
Analysis review
The upstream Yangquan anthracite (washing medium block) was about 1,260 RMB/ton, with low price consolidation, and cost support general was general.
From a demand perspective, agricultural demand has weakened, while industrial demand was average. The operating rate of the compound fertilizer plant was stable, and the enthusiasm for urea procurement was normal. Board and melamine enterprises commonly started construction and mainly purchased on demand.
From a supply perspective, some enterprises started to resume production, with daily urea production ranging from 160,000 to 170,000 tons.
Market outlook
Urea fluctuated and fell slightly in the future.
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