SunSirs: Domestic Urea Prices Fell 1.20% on July 19
July 20 2022 09:23:34 SunSirs (John)Price trend
On July 19, the domestic comprehensive price of urea fell slightly, with an average price of 2,637 RMB/ton, a decrease of 32 RMB/ton from the price on July 18, a decrease of 1.20%, and a decrease of 5.14% compared with the same period last year.
Analysis review
The upstream cost support was general, the downstream agricultural demand was followed up on demand, and the industrial demand was mainly based on rigid demand.
India released a new round of bidding information, which boosted market confidence. Some factories in Inner Mongolia, Shandong and Anhui have been overhauled, the daily production of urea has dropped, and the supply pressure has eased.
Market outlook
In the future, it is expected that the domestic urea market price may bottom out and the average market price will be around 2,680 RMB/ton.
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