1、 Price trend
As of May 21st, the reference average price of urea market in Shandong Province, China was 1775 yuan/ton, which is 2.61% lower than the reference average price of 1822 yuan/ton on May 15th.
2、 Market analysis
market situation
This week, the domestic urea market prices continued to decline weakly. Recently, urea prices in the spot market have been continuously declining due to export rumors. The futures market started to rebound after a decline. As of May 21st, the urea market prices in Shandong are around 1740-1800 yuan/ton, Hebei is around 1750-1790 yuan/ton, Henan is around 1750-1800 yuan/ton, Hubei is around 1750-1810 yuan/ton, and Liaoning is around 1850-1870 yuan/ton.
supply and demand situation
In terms of supply, the current operating rate of urea enterprises is over 90%, and the overall inventory remains high. In terms of demand, the demand for agricultural urea fertilizer has weakened. The operating rate of downstream compound fertilizer enterprises has decreased, resulting in a reduction in urea procurement. The demand for industrial urea is also beginning to weaken.
3、 Future forecast
Business Society’s urea analyst believes that the recent downward trend in the domestic urea market is the main reason. At present, the demand for urea is off-season, downstream procurement is slowing down, and new orders in the market are decreasing. At present, there is no positive news, and it is expected that the domestic urea market will weaken and consolidate in the short term.
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