SunSirs: On September 5th, the Domestic Urea Market Rose
September 06 2023 13:48:19     SunSirs (John)Price trend
On September 5th, the domestic urea market rose.
Analysis review
The upstream Yangquan anthracite (washed, medium, block) was around 1,160 RMB/ton, with a temporarily stable price and average cost support.
From a demand perspective, agricultural demand had weakened, industrial demand was average, and urea exports were good. Agricultural sporadic replenish fertilizers. The operating rate of the compound fertilizer plant was average, and the enthusiasm for urea procurement was normal. Board and melamine enterprises started construction averagely and mainly purchased on demand.
From a supply perspective: Some enterprises had shut down for maintenance, and their daily urea production was around 160,000-170,000 tons, resulting in a tight supply.
Market outlook
Urea will fluctuate downward slightly in the future.
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