SunSirs: On August 23rd, the Domestic Urea Market Temporarily Stabilized
August 24 2023 14:47:24 SunSirs (John)
Price trend
On August 23rd, the domestic urea market temporarily stabilized.
Analysis review
The upstream Yangquan anthracite (washed, medium, block) was around 1,130 RMB/ton, with a temporarily stable price and average cost support.
From a demand perspective: Agricultural demand had weakened, while industrial demand was average. Sporadic replenished fertilization in agriculture. The operating rate of the compound fertilizer plant was average, and the enthusiasm for urea procurement was normal. Board and melamine enterprises averagely started construction and mainly purchased on demand.
From a supply perspective: Some enterprises have shut down for maintenance, and their daily urea production was around 160,000-170,000 tons, and the supply was tight.
Market outlook
Urea will fluctuate downward slightly in the future.
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