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.

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