China's Urea Market Trend First Rises Then Falls (10.24-10.30)

October 30, news

I. Price Trends

According to the commodity market analysis system, as of October 30, the reference average price of urea in the Chinese market was 1,620 CNY/ton, compared to the reference average price of 1,597 CNY/ton on October 24. The price increase of urea in China this week was 1.41%.

II. Market Analysis

Market Conditions

This week, the urea market prices in China first rose and then fell. As of October 30, the urea market quotes in Shandong region were around 1550-1620 CNY/ton, in Hebei region around 1560-1620 CNY/ton, in Henan region around 1530-1580 CNY/ton, in Hubei region around 1560-1610 CNY/ton, and in Liaoning region around 1620-1660 CNY/ton.

Supply and Demand Situation

This week, the urea market in China has seen stable supply and demand. In terms of supply, the daily production of urea remains high, and the supply pressure still exists. On the demand side, there is no significant improvement in industrial and agricultural demand, and the trading atmosphere in the urea market is weak, with downstream buyers mainly seeking to purchase at lower prices.

III. Market Forecast

Urea analysts believe: Recently, the urea market in China has shown a weak downward trend. Due to the continuous rise in urea prices earlier, downstream buyers have developed resistance to high prices, leading to increased caution in purchasing. It is expected that in the short term, urea prices in China will mainly undergo minor adjustments.