1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of October 30th, the reference average price of domestic urea market was 1620 yuan/ton, which is 1.41% higher than the reference average price of 1597 yuan/ton on October 24th.
2、 Market analysis
market situation
This week, the domestic urea market price first rose and then fell. As of October 30th, the urea market prices in Shandong are around 1550-1620 yuan/ton, Hebei is around 1560-1620 yuan/ton, Henan is around 1530-1580 yuan/ton, Hubei is around 1560-1610 yuan/ton, and Liaoning is around 1620-1660 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 remains high, and supply pressure still exists. In terms of demand, there is currently no significant improvement in industrial and agricultural demand, and the trading atmosphere in the urea market is light, with downstream purchases mainly seeking lower prices.
3、 Future forecast
Business Society’s urea analyst believes that the domestic urea market has been weak and declining recently. Due to the continuous rise in urea prices in the early stage, downstream consumers have a resistance to high prices, and their cautious purchasing mentality has increased. It is expected that in the short term, domestic urea prices will experience a slight consolidation and operation.