August 31 news
I. Price Trends
According to the commodity market analysis system, as of August 31, the reference average price for small and medium-sized urea in Shandong region was 1,715 CNY per ton, compared to the reference average price of 1,757 CNY per ton on August 1. The decrease in urea market prices this month in China was 2.42%.
2. Market Analysis
As shown in the weekly K-line chart from June 1, 2026, to August 24, 2026, China's urea prices exhibited alternating rises and falls during this period. In August, urea prices in China declined more significantly, with the largest price decrease occurring in the week of August 10, at 1.73%.
Market Conditions
As of August 31, the urea market price in Shandong region was around 1650-1720 CNY/ton, in Hebei region it was around 1690-1720 CNY/ton, in Henan region it was around 1630-1700 CNY/ton, and in Liaoning region it was around 1750-1790 CNY/ton.
Supply and Demand Situation
This month, the overall urea market price in China fluctuated and declined. In the first half of the month, the urea market price fell slightly. The urea futures market was generally weak, negatively impacting the spot market. The urea market supply was sufficient, but demand was relatively weak. In the second half of the month, the urea market price increased. The strengthening of the urea futures market drove up the spot market. The latest tender from India exceeded expectations, providing support for exports.
3. Future Market Forecast
Urea analysts believe: Recently, the urea market has been consolidating. Currently, the market supply is sufficient, but downstream demand is weak, with no changes in the supply and demand situation, and limited market transactions. It is expected that in the short term, urea prices in China will remain stable with a wait-and-see attitude.
