SunSirs: The Urea Market Experienced a Decline in Early March

Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 10th, the reference average price of the domestic urea market was 1,871 RMB/ton, which was 1.11% lower than the reference average price of 1,892 RMB/ton on March 1st.

Analysis review

Market conditions

In early March, the domestic urea market prices fell. As of March 10th, the factory price of urea in Shandong region was around 1,800-1,830 RMB/ton, in Hebei region it was around 1,850 RMB/ton, in Henan region it was around 1,800-1,820 RMB/ton, in Hubei region it was around 1,830 RMB/ton, and in Liaoning region it was around 1,860 RMB/ton.

Supply and demand situation

This week, the urea market had sufficient supply and cautious market demand. On the supply side, urea production started at a high level this week, with stable market supply and sufficient inventory levels. In terms of demand, downstream purchases were made on demand, and the market transaction atmosphere was flat, with limited follow-up on new orders.

Market outlook

The urea analyst from SunSirs believes that the domestic urea price has started to slightly rebound after a continuous decline in recent days. As of March 10th, it was the peak season for spring plowing, and the demand for urea in the market was still high. But overall inventory remained high. It is expected that the domestic urea market price will remain stable and rise in the short term.

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