July 31st news
I. Price Trends
According to the commodity market analysis system, as of July 30, the reference average price for small and medium-sized urea in Shandong region was 1,757 CNY/ton, a decrease of 3.10% from the reference average price of 1,813 CNY/ton on July 1.
2. Market Analysis
Supply and Demand Situation
This month, the urea market prices in China have fluctuated and declined. In the first half of the month, the urea futures market weakened, negatively impacting the spot market. In the second half of the month, the urea futures market rebounded and then fell again. On the supply side, urea production enterprises have a high operating rate, ensuring ample market supply, with inventories remaining at high levels. On the demand side, agricultural demand for urea has slightly improved, and downstream fertilizer preparation demand has seen a small increase, but industrial demand remains weak. The urea market still shows a situation of oversupply.
Market Conditions
As of July 30, urea market prices in Shandong were around 1710-1760 CNY/ton, in Hebei 1750-1780 CNY/ton, in Henan 1700-1760 CNY/ton, and in Liaoning 1800-1850 CNY/ton.
According to the weekly K-bar chart from May 4, 2026, to July 20, 2026, the price of urea in China fluctuated with both increases and decreases. In July, the price of urea in China decreased more significantly, with the largest decrease occurring in the week of July 13, when the price dropped by 1.6%.
3. Future Market Forecast
Urea analysts believe: Recently, the urea market has been showing a weak and steady trend. Currently, the market supply is sufficient, and demand has not yet been fully released. India's recent announcement of a new round of procurement tenders has boosted market bullish sentiment, but it is unlikely to change the supply and demand situation. It is expected that in the short term, the price of urea in China will remain in a narrow range.
