Product Name: Urea

Latest price (June 5th): 2,377.50 RMB/ton

Analysis review

On June 5th, the comprehensive price of urea in China slightly increased, with a price increase of 81.25 RMB/ton or 3.54% compared to June 2nd, and a year-on-year decrease of 25.96%. The upstream Yangquan anthracite (washing medium block) was about 1,160 RMB/ton, and cost support was average. From a demand perspective: agricultural demand had increased, while industrial demand was relatively good. In some northern regions, summer top dressing and fertilizer preparation had been launched, the market transactions were active. The operating rate of compound fertilizer plants was gradually increasing, and the enthusiasm for urea procurement had increased. Board and melamine enterprises started construction averagely and mainly purchased on demand. From a supply perspective: As of June 5, the daily production of urea was around 160,000-170,000 tons, with sufficient supply. At the end of May, India released a new round of urea bidding, further boosting market confidence.

Market outlook

In the future, it is expected that the price of urea in the domestic market will rise slightly, and the average market price will be about 2,500 RMB/ton.

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