1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of October 24th, the reference average price of domestic urea market was 1597 yuan/ton, which is 1.27% higher than the reference average price of 1577 yuan/ton on October 20th.
2、 Market analysis
market situation
The domestic urea market prices have risen this week. This week, the urea futures market price rose, and the spot market followed the strong trend of the futures market. As of October 24th, the urea market prices in Shandong are around 1530-1600 yuan/ton, Hebei is around 1540-1600 yuan/ton, Henan is around 1510-1570 yuan/ton, Hubei is around 1590 yuan/ton, and Liaoning is around 1600 yuan/ton.
Supply and demand situation
This week, the supply and demand of the domestic urea market remained stable. In terms of supply, the daily production of urea is still high, and the market supply is sufficient. In terms of demand, the autumn fertilizer market is nearing its end, with weak market demand, and downstream replenishment is mainly based on demand.
3、 Future forecast
The urea analyst from Shengyi Society believes that the domestic urea market has been strong and rising recently. At present, the urea futures market is doing well, and winter storage demand has not yet been released, with the supply side still at a high level. It is expected that the short-term domestic urea price consolidation and operation will be the main focus.