SunSirs: On August 9th, the Domestic Urea Market Temporarily Stabilized
August 10 2023 10:26:40 SunSirs (John)
Price trend
On August 9th, the domestic urea market temporarily stabilized.
Analysis review
The upstream Yangquan anthracite (washed, medium, block) was around 1,130 RMB/ton, with a temporarily stable price and average cost support. From a demand perspective: Agricultural demand had weakened, while industrial demand was average. In agriculture, sporadic replenishment of fertilizers. The operating rate of the compound fertilizer plant was average, and the enthusiasm for urea procurement was normal. Board and melamine enterprises averagely started construction and mainly purchased on demand. From a supply perspective, some enterprises had started to resume production, with daily urea production ranging from 160,000 to 170,000 tons.
Market outlook
Urea market will fluctuate and fall slightly in the future.
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