SunSirs: Shandong Urea Price Rose by 2.15% on June 3
June 04 2021 14:26:57 SunSirs (John)
Commodity name: Urea
The latest price (June 3): 2,455.00 RMB/ton
On June 3, the ex-factory price of urea in Shandong increased, which was 51.67 RMB/ton higher than the price on June 1, an increase of 2.15%.
Analysis review
The prices of upstream natural gas and coal have risen slightly recently, and the cost support is relatively good. From the perspective of demand: the agricultural demand in various regions is still sufficient; the downstream compound fertilizer and rubber sheet factories are actively acquiring goods, and the new orders of enterprises are following up well. From the perspective of supply: Recently, some enterprises in Shandong, Xinjiang, Hebei, Henan and other places have maintained their equipment maintenance, and the supply side has been tightened. The daily output of urea has fallen below 160,000 tons. At the same time, corporate and social inventories are also maintained at a low position.
On the whole, urea cost support is strong this week, downstream demand is strong, and urea supply is tight.
Market outlook
In the future, the ex-factory price of urea in Shandong is expected to rise slightly: the average price quoted by manufacturers is around 2,500 RMB/ton.
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