SunSirs: On November 24, the Domestic Urea Price Rose by 0.73%
November 25 2022 09:28:34 SunSirs (John)
Price trend
On November 24, the comprehensive price of domestic urea was 2,744 RMB/ton, rising slightly, 0.73% higher than that on November 23, and 9.76% higher than that on the same period last year.
Analysis review
The price of upstream Yangquan anthracite (washing medium block) was about 1,630 RMB/ton, the price consolidated at high levels and cost support was good.
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 rose, and the enthusiasm for urea procurement was good. The operating rate of plate and melamine enterprises was average, and the purchase was mainly in needed.
From the perspective of supply: environmental protection inspection in Shanxi, the resumption of work was delayed, gas enterprises began to stop for maintenance, and daily urea production further decreased. Meanwhile, the delivery of urea was blocked.
Market outlook
In the future, the domestic urea market price is expected to rise slightly in shock, with the average market price at about 2760 RMB/ton.
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