SunSirs: On September 13th, the Domestic Urea Market Temporarily Stabilized
September 14 2023 14:00:14 SunSirs (John)
Price trend
On September 13th, the domestic urea market temporarily stabilized.
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. And in agriculture, fertilizers sporadically replenished. The operating rate of the compound fertilizer plant was average, and the enthusiasm for urea procurement was normal. Board and melamine enterprises commonly start construction and mainly purchased on demand.
From a supply perspective: Some enterprises had stopped for maintenance, and their daily urea production was around 160,000-170,000 tons, indicating sufficient supply.
Market outlook
Urea will fluctuate and fall slightly in the future.
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