SunSirs: On July 12th, the Domestic Urea Market Temporarily Stabilized
July 13 2023 11:04:34 SunSirs (John)
Price trend
On July 12th, the domestic urea market temporarily stabilized.
Analysis review
The upstream Yangquan Anthracite (washing medium block) was about 920 RMB/ton, with low price consolidation and general cost support.
From a demand perspective: agricultural demand had 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. Board and melamine enterprises generally started construction and purchased mainly 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
Urea will fluctuate and rise slightly in the future.
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