SunSirs: On November 17, the Domestic Urea Price Rose 0.15%
November 18 2022 08:58:44 SunSirs (John)
Price trend
On November 17, the comprehensive price of domestic urea was 2,658 RMB/ton, rising slightly, 0.15% higher than that on November 16, and 2.63% higher than that on the same period last year
Analysis review
The price of upstream Yangquan anthracite (washed and medium block) was about 1,630 RMB/ton, which was temporarily stable and cost support was general. In terms of demand, winter storage of chemical fertilizers had been fully started, and industrial demand had increased. The operating rate of the compound fertilizer plant had risen, and the enthusiasm for urea procurement was good. The operating rate of plate and melamine enterprises was average, and the purchases were mainly just in needed. From the supply side, the resumption of work in Shanxi was delayed due to environmental protection inspection. In late November, the gas head enterprise starts to stop for maintenance, and the daily urea production will further decline. Meanwhile, the delivery of urea is blocked.
Market outlook
It is estimated that the domestic urea market price will rise slightly in shock, with the average market price at about 2,680 RMB/ton.
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