Sinopec’s invoicing price in East China has been reduced by 200 yuan/ton, and 5600 yuan/ton. The factory has been reduced intensively. Today’s opening fundamentals are weak, and the intention of shippers to give up profits has increased. In particular, the offer in East China has dropped significantly, with the negotiated price at 5400-5450 yuan/ton. Other mainstream regions have fallen by the same margin. The terminal factory has been slow to follow up, and the inquiry is mainly limited to actual orders. The focus is on the follow-up of terminal procurement tomorrow.

The offer of acetone in major mainstream markets in China is as follows:

Region, quotation, rise and fall

East China, 5400., – 300

Shandong Province., 5850., – 200

Yanshan District., 5900., 0

South China., 5850., – 50

Trade name: urea

Latest price (October 31): 2506 yuan/ton

On October 31, the comprehensive price of domestic urea was temporarily stable, unchanged from October 28, down 18.64% year on year. The upstream Yangquan anthracite (washing block) is about 1780 yuan/ton, the price is high and consolidated, and the cost support is firm. From the perspective of demand: agricultural demand has a small amount of stock, while industrial demand has increased. The production of rubber sheet plants is low, and the purchase of rigid demand is the main demand. The production of compound fertilizer plants is declining, and the demand for urea is weakening. The price of melamine was consolidated at a high level, and the enthusiasm for urea procurement was good. After a long wait and see, the downstream began to replenish a small amount of storage. In terms of supply, Shanxi has limited production for environmental protection, and the daily output of urea is below 150000 tons.

In the future, the domestic urea market price is expected to rise slightly, with the average market price at about 2520 yuan/ton.