SunSirs: On August 4th, Domestic Urea Prices Fell by 1.47%
August 07 2023 14:52:19 SunSirs (John)
Product Name: Urea
Latest price (August 4th): 2,591.43 RMB/ton
Analysis review
On August 4th, the comprehensive price of domestic urea slightly decreased, with a decrease of 38.57 RMB/ton compared to August 3rd, a decrease of 1.47%, and a year-on-year increase of 6.29%.
The price of upstream Yangquan Anthracite (washing, medium, block) was about 1,130 RMB/ton, the price was consolidated at low levels and cost support was general. Downstream agricultural demand had basically ended, with sporadic fertilizer supplementation and agricultural demand weakened. Board and melamine manufacturers started construction commonly, and industrial demand was mainly based on rigid demand. Urea enterprises were operating at a high level and had sufficient supply.
Market outlook
In the future, it is expected that the domestic urea market price may fluctuate downward slightly, with an average market price of around 2,500 RMB/ton.
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