SunSirs: Domestic Urea Prices Were Adjusted in a Narrow Range (December 6-12)
December 13 2024 09:56:05 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of December 12th, the reference average price of the domestic urea market was 1,875 RMB/ton, a decrease of 0.35% from the reference average price of 1,881 RMB/ton on December 6th.
Analysis review
Market conditions
This week, the domestic urea market prices had slightly adjusted and fallen. As of December 12th, the factory price of urea in Shandong region was around 1,760-1,790 RMB/ton, in Hebei region it was around 1,800 RMB/ton, in Henan region it was around 1,785 RMB/ton, in Hubei region it is around 1,800 RMB/ton, and in Liaoning region it was around 1,885 RMB/ton.
Supply and demand situation
This week, both supply and demand in the urea market had been weak. On the supply side, there had been a decrease in urea market supply this week, but there was still a significant amount of inventory in the market. In terms of demand, downstream procurement enthusiasm was weak, market transactions were sluggish, and the trading atmosphere was not good.
Market outlook
SunSirs’ urea analyst believes that the domestic urea market has recently undergone a narrow adjustment. As of December 12th, there was no positive support in the market, and the market adopted a cautious and wait-and-see attitude. It is expected that in the short term, the domestic urea market prices will mainly be consolidated smoothly.
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