SunSirs: On November 13th, Domestic Urea Prices Fell by 1.48%
November 14 2023 09:45:13 SunSirs (John)Product Name: Urea
Latest price (November 13th): 2,551.67 RMB/ton
Analysis review
On November 13th, the comprehensive price of domestic urea slightly decreased, with a decrease of 38.33 RMB/ton compared to November 10th, a decrease of 1.48%, and a year-on-year decrease of 2.01%.
The prices of upstream anthracite (washing medium blocks) and liquefied natural gas had slightly decreased, resulting in insufficient cost support. Downstream agricultural demand was weak, with industrial demand being the main focus. Board and melamine manufacturers were generally operating, while the operating rate of composite fertilizer plants had decreased. Urea enterprises were operating at a high level and had sufficient supply of urea. Multiple bearish factors led to a downward trend in urea prices.
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 2,530 RMB/ton.
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