November urea market trends fluctuate and rise in China

November 27 News

I. Price Trends

According to the commodity market analysis system, as of November 27, the reference average price of urea in the Chinese market was 1652 CNY/ton, compared to the reference average price of 1607 CNY/ton on November 1. The price increase of urea in China for this month was 2.80%.

II. Market Analysis

Supply and Demand Situation

This month, the urea market prices in China fluctuated and increased. The urea futures market strengthened this month, and the spot market followed the strong trend of the futures market. With the dual benefits of exports and a new round of Indian tenders, market optimism has increased. Urea daily production remains high, and supply pressure still exists. In terms of demand, after the phosphorus compound fertilizer conference, winter storage demand for fertilizers began to advance, and downstream raw material procurement demand increased, enhancing the market trading atmosphere.

Market Conditions

As of November 27, urea market prices in Shandong region were around 1600-1650 CNY/ton, in Hebei region around 1620-1660 CNY/ton, in Henan region around 1610-1650 CNY/ton, and in Liaoning region around 1680-1720 CNY/ton.

As shown by the weekly K-line chart from September 1, 2024, to November 17, 2025, China's urea market has experienced alternating periods of price increases and decreases. In November, urea prices in China rose significantly, with the largest price increase occurring during the week of November 3, at 1.57%.

III. Future Market Forecast

Urea analysts believe: Recently, the urea market has experienced minor fluctuations. Currently, downstream demand for replenishment is steady, with stable industrial and agricultural demand, and the market transactions are acceptable. Urea market inventory remains high, and the market sentiment is cautious. It is expected that in the short term, the urea market price in China will undergo a narrow range of consolidation.