Price trend

According to the Commodity Market Analysis System of SunSirs, as of December 24th, the reference average price of domestic urea market was 1,828 RMB/ton, which was 1.26% lower than the reference average price of 1,851 RMB/ton on December 17th.

Analysis review

Market conditions

This week, the domestic urea market prices had weakened and fallen. As of December 24th, the factory price of urea in Shandong region was around 1,680-1,720 RMB/ton, in Hebei region it was around 1,730 RMB/ton, in Henan region it was around 1,710 RMB/ton, in Hubei region it was around 1,720-1,740 RMB/ton, and in Liaoning region it was around 1,810 RMB/ton.

Supply and demand situation

This week, the urea market had strong supply and weak demand. On the supply side, urea supply had been relatively loose this week, and market inventory had increased. In terms of demand, downstream procurement was relatively cautious, with a focus on low-priced purchases. As of December 24th, the market trading volume was still acceptable, but the trading atmosphere needed to be improved.

Market outlook

The urea analyst from SunSirs believes that the domestic urea market has been weak and consolidating recently. As of December 24th, there was no significant improvement in the supply and demand side, and there was no positive support in the market. It is expected that in the short term, the domestic urea market prices will mainly stable with a weaker trend.

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