SunSirs: On July 3rd, the Domestic Urea Market Rose
July 04 2023 10:11:08 SunSirs (John)
Price trend
On July 3rd, the domestic urea market rose
Analysis review
The upstream Yangquan Anthracite (washing medium block) was about 920 RMB/ton, with price consolidation at low levels, and the cost support was general.
From a demand perspective: agricultural demand increased, while industrial demand was average. The peak season for fertilizer use in summer had begun, leading to an increase in agricultural demand. The operating rate of the compound fertilizer plant was average, and the enthusiasm for urea procurement was normal. The operating rate of board and melamine enterprises was average, and procurement was mainly based 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 prices may fluctuate upward slightly in the future.
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