SunSirs: Domestic Urea Market Fell and Weakened in September

Price trend

According to the commodity market analysis system of SunSirs, as of September 29, the average reference price of domestic urea market was 1,621 RMB/ton, compared with the average reference price of 1,707 RMB/ton on September 1, the domestic urea market price fell by 5.05%.

Analysis review

Supply and Demand

The domestic urea market saw a weak decline this month. The domestic urea market was experiencing an oversupply this month. On the supply side, previously idled facilities were gradually restarting, with daily production gradually increasing, boosting market supply. On the demand side, industrial and agricultural demand for urea had not seen significant improvement. Downstream compound fertilizer companies were buying on dips, resulting in weak new order activity. Urea futures prices continued to decline, with the spot market following suit.

Market Situation

As of September 29th, urea market prices in Shandong were around 1,570-1,630 RMB/ton, in Hebei 1,620-1,650 RMB/ton, in Henan 1,560-1,620 RMB/ton, and in Liaoning 1,660 RMB/ton.

According to SunSirs’ data, from June 30, 2024 to September 22, 2025, domestic urea prices had experienced both ups and downs within the cycle. In September, domestic urea prices fell significantly, with the largest drop of 1.76% in the week of September 8.

Market outlook

Urea analysts of SunSirs believe that the recent urea market continued to decline. The overall trading sentiment in the urea market was temporarily weak. With the National Day holiday approaching, manufacturers were flexibly closing orders, and downstream suppliers were seeking bargains. It is expected that the domestic urea market price will be consolidated to be weaker in the short term.

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