1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of June 20th, the reference average price of domestic urea market was 1834 yuan/ton, which is 2.12% higher than the reference average price of 1796 yuan/ton on June 13th.
2、 Market analysis
market conditions
The domestic urea market continued to rise this week, but prices fell on Friday. This week, the urea futures market surged, boosting the urea spot market. As of June 20th, the urea market prices in Shandong are around 1780-1850 yuan/ton, Hebei is around 1790-1830 yuan/ton, Henan is around 1770-1840 yuan/ton, Hubei is around 1830 yuan/ton, and Liaoning is around 1910 yuan/ton.
Supply and demand situation
This week, the domestic urea market is experiencing oversupply. In terms of supply, some companies have undergone equipment maintenance this week, but the urea market supply is still abundant and inventory remains high. In terms of demand, downstream essential procurement is the main focus. This week, the operating rate of compound fertilizer enterprises has decreased, resulting in a decrease in demand for urea. The demand for agriculture in the north is gradually releasing and increasing.
3、 Future forecast
The urea analyst from Shengyi Society believes that the domestic urea market has been on the rise and then falling back recently. At present, the urea market is oversupplied, and market demand needs to be further released. After the continuous rise of urea, market sentiment has cooled down, and it is expected that the short-term domestic urea price will be mainly weak and stable.