1、 Price trend
As of July 16th, the reference average price of urea market in Shandong Province, China is 1770 yuan/ton, which is 1.73% lower than the reference average price of 1801 yuan/ton on July 10th.
2、 Market analysis
market situation
This week, the domestic urea market continued to operate weakly. The urea futures market is weakening, which is bearish for the spot market. At present, there is sufficient supply in the urea market, and there is a slight increase in agricultural demand. As of July 16th, the urea market prices in Shandong are around 1710-1780 yuan/ton, Hebei is around 1760-1790 yuan/ton, Henan is around 1700-1790 yuan/ton, Hubei is around 1720-1760 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 relatively high, the market supply is sufficient, and daily production remains high. In terms of demand, the agricultural demand for urea has slightly improved, downstream fertilizer procurement has increased, and industrial demand remains flat.
3、 Future forecast
Analysts believe that the domestic urea market has been declining recently. At present, although the demand for urea has improved, there is a large supply of goods in the market and inventory pressure is high. It is expected that the domestic urea market will be weak in the short term, mainly due to consolidation and operation.
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