July 16th, according to news:
I. Price Trends
According to the commodity market analysis system, as of July 16, the reference average price of urea in the Shandong region of China was 1770 CNY/ton, a decrease of 1.73% from the reference average price of 1801 CNY/ton on July 10.
2. Market Analysis
Market Conditions
This week, the urea market in China continued to operate weakly. The urea futures market weakened, negatively impacting the spot market. Currently, the supply of urea is abundant, and agricultural demand has slightly increased. As of July 16, urea market prices in Shandong were around 1710-1780 CNY/ton, in Hebei around 1760-1790 CNY/ton, in Henan around 1700-1790 CNY/ton, in Hubei around 1720-1760 CNY/ton, and in Liaoning around 1850-1870 CNY/ton.
Supply and Demand Situation
Supply-wise, urea enterprises in China are currently operating at a high rate, with ample market supply and daily production remaining at a high level. Demand-wise, agricultural demand for urea in China has slightly improved, with downstream fertilizer purchases increasing, while industrial demand remains flat.
III. Future Market Forecast
Urea analysts believe: Recently, the urea market trend in China has been declining. Although the demand for urea has improved, there is a large amount of supply in the market, leading to significant inventory pressure. It is expected that the urea market in China will mainly operate with a weak consolidation in the short term.
