Price trend

According to the Commodity Market Analysis System of SunSirs, as of November 22, the reference average price of the domestic urea market was 1,981 RMB/ton, which was 0.13% lower than the reference average price of 1,983 RMB/ton on November 18.

Analysis review

Market conditions

This week, the domestic urea market price first suppressed and then rose, with a narrow adjustment in operation. As of November 22, the ex factory price of urea in Shandong region was around 1,780-1,810 RMB/ton, in Hebei region it was around 1,820 RMB/ton, in Henan region it was around 1,810 RMB/ton, in Hubei region it was around 1,830 RMB/ton, and in Guangdong region it was around 1,965 RMB/ton.

Supply and demand situation

This week, the urea market had strong supply and weak demand. On the supply side, the urea market supply continued to increase this week, and there was temporarily a high inventory in the market. In terms of demand, downstream procurement was the main focus, with many low-priced transactions, and demand follow-up needs to be improved.

Market outlook

The urea analyst from SunSirs believes that the urea market in Shandong has seen a slight increase in recent days, while other regions were stabilizing. As of November 22, the market supply was loose, the market transactions were still acceptable, and downstream buyers were cautious in following orders. It is expected that in the short term, the domestic urea market will mainly experience weak price consolidation and operation.

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