SunSirs: On January 10th, the Urea Market in Shandong Fell
January 11 2024 10:43:15 SunSirs (John)
Price trend
On January 10th, the comprehensive price of urea in Shandong was 2,500 yuan/ton, a decrease of 0.33% compared to the previous day.
Analysis review
Upstream Yangquan anthracite (washed medium block) wa around 960 yuan/ton, with prices consolidating at a low level and cost support weakening.
From a demand perspective: Agricultural demand was weakening, industrial demand was average, and urea exports were 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 generally started construction, with a focus on procurement for immediate needs.
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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