1、 Price trend
As of June 15th, the reference average price of urea market in Shandong Province, China was 1802 yuan/ton, an increase of 0.91% compared to the reference average price of 1786 yuan/ton on June 7th.
2、 Market analysis
market situation
This week, the domestic urea market price first rose and then fell. At the beginning of the week, urea was affected by the cancellation of the export guidance price policy, boosting the urea market and causing prices to continue to rise. On Thursday, urea prices began to fall, with limited export benefits and average downstream demand. In addition, the futures market weakened, and the urea spot market continued to decline. As of June 15th, the urea market prices in Shandong are around 1740-1800 yuan/ton, Hebei is around 1760-1780 yuan/ton, Henan is around 1730-1790 yuan/ton, Hubei is around 1750-1790 yuan/ton, and Liaoning is around 1850-1890 yuan/ton.
supply and demand situation
In terms of supply, the current operating rate of urea enterprises is over 90%, daily production remains high, and overall inventory is still under pressure. In terms of demand, the current demand for urea in agriculture is weakening, and downstream compound fertilizer enterprises are purchasing according to demand. The demand for industrial urea has also begun to decrease.
3、 Future forecast
The urea analyst from Shengyi Society believes that the recent domestic urea market trend is mainly downward. At present, the demand for urea is off-season, downstream procurement is slowing down, and market transactions are cautious. It is expected that the domestic urea market will continue to operate weakly in the short term.