Commodity name: Urea

The latest price (September 8): 2,500 RMB/ton

Analysis review

The ex-factory price of urea in Shandong increased on September 8, which was 6.67 RMB/ton higher than the price on September 6, or up 0.27%, and increased by 46.77% compared to the price year-on-year.

The prices of upstream coal and liquefied natural gas have risen slightly recently, with strong cost support. From the perspective of demand: the demand increased, agricultural demand began to prepare fertilizer, industrial demand rose, downstream compound fertilizer and rubber sheet plants increased demand for urea, and the operating rate of melamine enterprises is maintained at a high level. From the perspective of supply, urea has entered a centralized maintenance period. Shandong, Shanxi, Xinjiang, and Inner Mongolia have maintenance plans, and the daily output of urea has declined.

On the whole, the cost support of urea has been strengthened, downstream demand has increased, and the supply of urea has decreased, making the supply in short supply.

Market outlook

In the future, the ex-factory price of urea in Shandong is expected to rise slightly: the average price quoted by manufacturers is around 2,550 RMB/ton.

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