SunSirs: On October 18th, the Domestic Urea Market Temporarily Stabilized
October 19 2023 10:38:03 SunSirs (John)
Price trend
On October 18th, the domestic urea market temporarily stabilized.
Analysis review
The upstream Yangquan anthracite (washed medium block) was around 1,290 RMB/ton, with a temporarily stable price and average cost support.
From a demand perspective: Agricultural demand had weakened, industrial demand was average, and urea exports were currently not favorable. Agriculture entered the off-season. The operating rate of compound fertilizer plants decreased, and the enthusiasm for urea procurement had weakened. Board and melamine enterprises generally started construction and mainly purchased on demand.
From a supply perspective, some enterprises had completed maintenance, and daily urea production had further increased, resulting in sufficient supply.
Market outlook
Supply exceeds demand, and urea will experience a slight fluctuation and decline in the future.
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- 2024-12-26 SunSirs: The Domestic Urea Market Was Consolidating to Be Weaker (December 17-24)
- 2024-12-18 SunSirs: Domestic Urea Prices Were Weaker and Falling (December 10-17)
