SunSirs: On June 16th, Domestic Urea Prices Fell by 3.12%
June 19 2023 14:01:13 SunSirs (John)
Product Name: Urea
Latest price (June 16th): 2,210.00 RMB/ton
Analysis review
On June 16th, the comprehensive price of domestic urea slightly decreased, with a decrease of 71.25 RMB/ton compared to June 15th, a decrease of 3.12%, and a year-on-year decrease of 31.43%. The price of upstream Yangquan anthracite (washing medium block) was about 920 RMB/ton, 140 RMB/ton lower than 15th's price, and the cost support was weakened. From a demand perspective: Agricultural demand had weakened, while industrial demand was average. The summer fertilizer season had not yet begun. The production of high nitrogen compound fertilizers basically ended, and the operating rate of compound fertilizer plants had decreased, weakening the enthusiasm for urea procurement. Board and melamine enterprises started construction averagely and mainly purchased on demand. 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
It is expected that the domestic urea market price may fluctuate upward slightly in the future, with an average market price of around 2,250 RMB/ton.
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