In early April, the price of urea in China slightly increased (4.1-4.10)

April 10 news

I. Price Trends

According to the commodity market analysis system, as of April 10, the reference average price of urea in Shandong, China, was 1,872 CNY/ton, an increase of 0.40% from the reference average price of 1,865 CNY/ton on April 1.

2. Market Analysis

Market Conditions

In early April, the urea market prices in China fluctuated slightly. As of April 10, the urea market quotations in Shandong region were around 1840-1900 CNY/ton, in Hebei region around 1830-1870 CNY/ton, in Henan region around 1810-1880 CNY/ton, in Hubei region around 1860-1890 CNY/ton, and in Liaoning region around 1850-1900 CNY/ton.

Supply and Demand Situation

On the supply side, urea market supply has increased this week, with operating rates reaching around 90%. On the demand side, the peak spring farming season is coming to an end, leading to a decline in market demand. Downstream demand is primarily driven by rigid procurement needs, and as compound fertilizer companies ramp up their operations, their demand for urea purchases is on the rise.

III. Future Market Forecast

Urea analysts believe: Recently, the urea market trend has been stabilizing. The international urea market has seen a significant increase, while the Chinese urea market has not experienced much fluctuation, with a noticeable price difference. Under China's fertilizer price stabilization and supply guarantee policy, it is expected that the short-term Chinese urea market prices will experience a slight upward fluctuation.

4. Technical Analysis

From the spot market analysis system, it can be seen that currently, urea's 10-day moving average is crossing above the 20-day moving average, and the market forecast aligns with an upward trend.