SunSirs: The Domestic Urea Market Experienced a Rise Followed by a Decline (October 24-30)

Price trend

According to the commodity market analysis system of SunSirs, as of October 30, the average reference price of urea in the domestic market was 1,620 RMB/ton, compared with the average reference price of 1,597 RMB/ton on October 24. The price of urea in the domestic market rose by 1.41% last week.

Analysis review

Market Situation

Last week, domestic urea prices rose initially before falling. As of October 30th, urea prices in Shandong were around 1,550-1,620 RMB/ton, in Hebei around 1,560-1,620 RMB/ton, in Henan around 1,530-1,580 RMB/ton, in Hubei around 1,560-1,610 RMB/ton, and in Liaoning around 1,620-1,660 RMB/ton.

Supply and Demand Situation

Last week, the domestic urea market saw a stable supply and demand situation. On the supply side, daily urea production remained high, and supply pressure persisted. On the demand side, there was no significant improvement in industrial and agricultural demand, resulting in a sluggish trading atmosphere in the urea market, with downstream buyers primarily seeking lower prices.

Market outlook

According to analysts at SunSirs, the domestic urea market was trending downwards recently. Due to the previous continuous rise in urea prices, downstream buyers were resistant to high prices and were more cautious in their purchasing. It is expected that domestic urea prices will mainly fluctuate slightly in the short term.

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