SunSirs: The Domestic Urea Market Fluctuated Slightly (January 13-17)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of January 17th, the reference average price of the domestic urea market was 1,711 RMB/ton, which was 0.58% lower than the reference average price of 1,721 RMB/ton on January 13th.

Analysis review

Market conditions

This week, the domestic urea market prices fluctuated slightly. As of January 17th, the factory price of urea in Shandong region was around 1,600-1,655 RMB/ton, in Hebei region it was around 1,650 RMB/ton, in Henan region it was around 1,620 RMB/ton, in Hubei region it was around 1,620 RMB/ton, and in Liaoning region it was around 1,760 RMB/ton.

Supply and demand situation

This week, the urea market has seen stable supply and increased demand. In terms of supply, the urea market had ample supply this week, and market inventory remained loose. In terms of demand, there has been an increase in downstream agricultural demand before the holiday, smooth transactions in the urea market, and a decrease in industrial demand.

Market outlook

The urea analyst from SunSirs believes that the domestic urea market has been mainly fluctuating at a low level recently. As of January 17th, the demand for pre holiday market replenishment was increasing, and downstream replenishment demand will gradually weaken as the Spring Festival approaching. It is expected that the domestic urea market prices will experience narrow fluctuations in the short term.

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