1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of March 19th, the reference average price of urea market in Shandong Province, China was 1865 yuan/ton, a decrease of 1.45% from the reference average price of 1892 yuan/ton on March 13th.
2、 Market analysis
market situation
This week, the domestic urea market prices have weakened and fallen. As of March 19th, the urea market prices in Shandong are around 1840-1880 yuan/ton, Hebei is around 1830-1870 yuan/ton, Henan is around 1810-1860 yuan/ton, Hubei is around 1860-1900 yuan/ton, and Liaoning is around 1880-1900 yuan/ton.
supply and demand situation
This week, the urea market is oversupplied. On the supply side, the urea production rate and daily output were high this week, indicating sufficient market supply. In terms of demand, downstream compound fertilizer enterprises are in urgent need of procurement, and the market is mostly adopting a wait-and-see attitude, resulting in a cautious overall trading atmosphere.
3、 Future forecast
Business Society’s urea analyst believes that the urea market trend has been declining recently. The futures market is not performing well, coupled with high inventory in the urea market. It is expected that in the short term, the domestic urea market will be dominated by strong price consolidation and operation.
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