Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 7th, the reference average price of the domestic urea market was 1,985 RMB/ton, a decrease of 0.50% from the reference average price of 1,995 RMB/ton on April 1st.
Analysis review
Market conditions
This week, the domestic urea market has been weaker and declining. As of April 7th, the factory price of urea in Shandong region was around 1,900-1,930 RMB/ton, in Hebei region it was around 1,900 RMB/ton, in Henan region it was around 1,910 RMB/ton, in Hubei region it was around 1,910 RMB/ton, and in Liaoning region it was around 1,940 RMB/ton.
Supply and demand situation
In terms of supply, the urea market had sufficient supply this week, and inventory pressure was still present, with stable shipments from enterprises. In terms of demand, the volume of new orders decreased this week, downstream demand slowed down, and a cautious attitude increased. Business owners mainly placed early orders.
Market outlook
SunSirs’ urea analyst believes that the recent downward trend in the domestic urea market was the main reason. As of April 7th, the demand in the industrial and agricultural markets was weakening, and market transactions were slowing down. It is expected that the domestic urea market price will be weaker and decline in the short term.
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