1、 Price trend

As of August 21st, the reference average price of urea market in Shandong Province, China is 1720 yuan/ton, which is 1.03% higher than the reference average price of 1702 yuan/ton on August 17th.
2、 Market analysis
market situation
This week, the domestic urea market has shown a strong upward trend. This week, the urea futures market has strengthened, driving up the spot market. At present, the urea market has sufficient supply, but the market demand is still weak. India’s latest bidding volume exceeds expectations, with support for exports. As of August 21st, the urea market prices in Shandong are around 1690-1720 yuan/ton, Hebei is around 1700-1740 yuan/ton, Henan is around 1690-1730 yuan/ton, Hubei is around 1700-1740 yuan/ton, and Liaoning is around 1750-1790 yuan/ton.
supply and demand situation
In terms of supply, the current operating rate of urea enterprises is around 90%, and daily production remains high. In terms of demand, downstream compound fertilizer enterprises urgently need to purchase, while industrial and agricultural demand remains flat, with limited new market transactions.
3、 Future forecast
Analysts believe that the domestic urea market trend has been strong and upward recently. At present, the supply and demand in the urea market have not improved, and there is still an oversupply. Suggest paying attention to policy trends and changes in supply and demand. It is expected that the domestic urea market will mainly experience fluctuations and consolidation in the short term.