SunSirs: The Domestic Urea Market Continued to Rise (February 21-26)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 26th, the reference average price of domestic urea market was 1,881 RMB/ton, which was 2.06% higher than the reference average price of 1,843 RMB/ton on February 21st.

Analysis review

Market conditions

This week, the domestic urea market prices have shown a stronger upward trend. As of February 26th, the factory price of urea in Shandong region was around 1,835-1,860 RMB/ton, in Hebei region it was around 1,850 RMB/ton, in Henan region it was around 1,850 RMB/ton, in Hubei region it was around 1,840 RMB/ton, and in Liaoning region it was around 1,880 RMB/ton.

Supply and demand situation

On the supply side, the spot supply of urea market was tight this week, but the daily production was relatively sufficient. In terms of demand, it was temporarily the spring plowing and fertilizer preparation period, with strong agricultural demand and increased industrial demand. The urea market hae good trading volume and increased trading volume.

Market outlook

The urea analyst from SunSirs believes that the domestic urea market has been continuously rising in recent days. As urea prices continued to rise, downstream procurement tended to be cautious. The demand side support was good, and the market still maintained an optimistic attitude. It is expected that the domestic urea market price will remain stable and rise in the short term.

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