1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of July 24th, the reference average price of domestic urea market was 1832 yuan/ton, which is 0.41% higher than the reference average price of 1825 yuan/ton on July 17th.
2、 Market analysis
market conditions
This week, the domestic urea market price first rose and then fell. At the beginning of this week, downstream purchasing intentions improved, and the trading atmosphere in the urea market increased. Manufacturers are mainly raising prices, and the domestic urea market prices are rising. Starting from Wednesday, the futures market began to cool down, and with the urea market still dominated by oversupply, urea prices began to decline. As of July 24th, the urea market prices in Shandong are around 1790-1830 yuan/ton, Hebei is around 1790 yuan/ton, Henan is around 1780-1830 yuan/ton, Hubei is around 1800 yuan/ton, and Liaoning is around 1780 yuan/ton.
Supply and demand situation
On the supply side, some companies underwent equipment maintenance this week, resulting in a decrease in daily production, but the urea market supply remains abundant. In terms of demand, there has been an improvement in the autumn fertilizer preparation situation. Compound fertilizer manufacturers replenish as needed, increasing demand for raw material procurement.
3、 Future forecast
Business Society’s urea analyst believes that the domestic urea market has been weak and declining recently. Manufacturers are mainly pushing prices, but market inventory remains high, coupled with poor futures market trends. It is expected that in the short term, the domestic urea price will be weak and mainly operated through consolidation.