Price trend
On November 1st, the domestic urea market rose.
Analysis review
The upstream Yangquan anthracite (washed medium block) was around 1,290 RMB/ton, with a temporarily stable price and average cost support.
From a demand perspective, agricultural demand has weakened, industrial demand was average, and news of urea exports is positive, boosting market confidence. Agriculture has entered the off-season. The operating rate of compound fertilizer plants has decreased, and the enthusiasm for urea procurement has weakened. Board and melamine enterprises generally started construction and mainly purchased on demand.
From a supply perspective, some enterprises have completed maintenance, and daily urea production has further increased, resulting in sufficient supply.
Market outlook
Supply exceeds demand, and urea will experience a slight fluctuation and decline in the future.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.