Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 26th, the reference average price of the domestic urea market was 2,313 RMB/ton, which was 1.95% lower than the reference average price of 2,359 RMB/ton on July 22nd.

Analysis review

Market conditions

This week, the domestic urea market prices had weakened and fallen. As of July 26th, the ex factory price of urea in Shandong region was around 2,090-2,130 RMB/ton, in Hebei region it was around 2,120 RMB/ton, and in Henan region it was around 2,140 RMB/ton.

Supply and demand situation

In terms of supply, the urea market temporarily had a relatively sufficient supply, with oversupply being the main factor. In terms of demand, the agricultural demand was weakening, and downstream compound fertilizers were purchased on demand, with small quantities and many low-priced transactions.

Market outlook

The urea analyst from SunSirs believes that the recent downward trend in the urea market had led to a lack of trading atmosphere in the market. As of July 26th, there was no positive news in the market, waiting for the release of terminal demand. It is expected that the domestic urea market prices will continue to weaken and decline in the short term.

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