SunSirs: The Urea Market Fluctuated This Week (March 10-14)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 14th, the reference average price of domestic urea market was 1,873 RMB/ton, which was 0.11% higher than the reference average price of 1,871 RMB/ton on March 10th.

Analysis review

Market conditions

This week, the domestic urea market prices have fluctuated. As of March 14th, the factory price of urea in Shandong region was around 1,800-1,825 RMB/ton, in Hebei region it was around 1,800-1,840 RMB/ton, in Henan region it was around 1,820 RMB/ton, in Hubei region it was around 1,820 RMB/ton, and in Liaoning region it was around 1,890 RMB/ton.

Supply and demand situation

In terms of supply, urea production started at a high level this week, and the urea market had sufficient supply. In terms of demand, downstream purchases were made on demand, with stable industrial and agricultural demand and decent new order volume.

Market outlook

The urea analyst from SunSirs believes that in recent days, domestic urea prices have been fluctuating, with minor fluctuations being the main trend. As of March 14th, there was a large inventory in the market, and there was support from the demand side. It is expected that the domestic urea market will mainly experience price fluctuations and consolidation in the short term.

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