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SunSirs: On December 19th, the Domestic Urea Market Declined

December 20 2023 09:48:42     SunSirs (John)

Price trend

On December 19th, the domestic urea market declined.

Analysis review

The upstream Yangquan anthracite (washed, medium block) was priced at around 1,505 RMB/ton, with high consolidation and good cost support.

From a demand perspective: Agricultural demand was weakening, industrial demand was average, and urea exports were currently not favorable. Agriculture had entered the off-season. The operating rate of compound fertilizer plants had increased, indicating a good enthusiasm for urea procurement. Board and melamine enterprises commonly started construction, the procurement was mainly in needed.

From the perspective of supply, some enterprises had completed maintenance, resulting in a further increase in daily urea production and sufficient supply.

Market outlook

In the future, urea will experience a slight fluctuation and decline.

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