SunSirs: The Domestic Urea Price Was Temporarily Stable on November 9
November 10 2022 09:21:17 SunSirs (John)
Price trend
On November 9, the comprehensive price of domestic urea was 2,519 RMB/ton, which was temporarily stable. The price was the same as that on November 8, and a year-on-year drop of 6.22%.
Analysis review
The upstream Yangquan anthracite (washing medium block) was about 1,630 RMB/ton, the price dropped slightly, and the cost support was average. From the perspective of demand: agricultural demand had a small amount of stock, while industrial demand had increased. Rubber sheet factories started at a low level, mainly purchased on rigid demand. The operating rate of compound fertilizer plants decreased, and the demand for urea weakened. The price of melamine was consolidated at a high level, and the enthusiasm for urea procurement was good. After a long wait and see, the downstream began to replenish a small amount of storage. In terms of supply, Shanxi had limited production due to environmental protection, and the daily output of urea was below 150,000 tons.
Market outlook
n the future, the domestic urea market price is expected to rise slightly in shock, with the average market price at about 2,530 RMB/ton.
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