SunSirs: Domestic Urea Prices Were Weaker and Falling (December 10-17)
December 18 2024 15:18:43 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of December 17th, the reference average price of domestic urea market was 1,851 RMB/ton, whichw as 1.07% lower than the reference average price of 1,871 RMB/ton on December 10th.
Analysis review
Market conditions
This week, the domestic urea market has weakened and declined. As of December 17th, the factory price of urea in Shandong region was around 1,720-1,735 RMB/ton, in Hebei region it was around 1,760 RMB/ton, in Henan region it was around 1,740 RMB/ton, in Hubei region it was around 1,750-1,770 RMB/ton, and in Liaoning region it was around 1,850 RMB/ton.
Supply and demand
This week, both supply and demand in the urea market have been weak. On the supply side, urea production has decreased this week, resulting in a decrease in market supply. In terms of demand, downstream procurement was relatively cautious, market trading has decreased, transaction atmosphere was light, and the demand side needed to be improved.
Market outlook
The urea analyst from SunSirs believes that the domestic urea market has been weak recently. As of December 17th, the market was mainly wait-and-see, with poor downstream demand. It is expected that the short-term domestic urea market prices will continue to be weaker.
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