Price trend
According to the Commodity Market Analysis System of SunSirs, as of February 14th, the reference average price of domestic urea market was 1,728 RMB/ton, which was 2.57% higher than the reference average price of 1,685 RMB/ton on February 8th.
Analysis review
Market conditions
This week, the domestic urea market prices have continued to rise. As of February 14th, the factory price of urea in Shandong region was around 1,650-1,710 RMB/ton, in Hebei region it was around 1,720 RMB/ton, in Henan region it was around 1,720 RMB/ton, in Hubei region it was around 1,710 RMB/ton, and in Liaoning region it was around 1,790 RMB/ton.
Supply and demand situation
This week, the supply of urea in the market has been stable, and the market demand has increased. On the supply side, with the increase in demand this week, the supply of urea in the market has decreased, and some regions were experiencing tight supply. In terms of demand, it was temporarily the peak season for spring plowing, with an increase in agricultural demand and a positive transaction volume in the urea market.
Market outlook
The urea analyst from SunSirs believes that the domestic urea market has been stronger recently. After the holiday, the trading volume of urea market increased, and the shipment of enterprises was smooth. As of February 14th, the market had a strong bullish sentiment and there was some support from the demand side. It is expected that the domestic urea market price will mainly be stable and upward in the short term.
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