Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 20th, the reference average price of domestic urea market was 1,851 RMB/ton, which was 7.11% higher than the reference average price of 1,728 RMB/ton on February 14th.

Analysis review

Market conditions

This week, the domestic urea market prices have shown a strong upward trend. As of February 20th, the factory price of urea in Shandong region was around 1,750-1,810 RMB/ton, in Hebei region it was around 1,800 RMB/ton, in Henan region it was around 1,770 RMB/ton, in Hubei region it was around 1,780 RMB/ton, and in Liaoning region it was around 1,850 RMB/ton.

Supply and demand situation

This week, the urea market had sufficient supply and market demand increased. In terms of supply, the urea market remained stable this week with sufficient inventory levels. In terms of demand, the recent peak season for spring plowing has led to an increase in urea demand, an increase in downstream compound fertilizer production rates, and a significant increase in urea market trading volume.

Market outlook

The urea analyst from SunSirs believes that the domestic urea market has been operating strongly recently. As of February 20th, there was a decrease in market supply and an increase in demand, but overall inventory was high. Under the continuous rise of urea, the market tended to stabilize, and in some areas, the market was loose. It is expected that the domestic urea market price will remain stable with a decline in the short term.

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