Recent trends in urea prices
| Gamma-PGA (gamma polyglutamic acid) |
Agricultural demand is gradually starting, and urea prices in Shandong have slightly increased this week. According to the Commodity Analysis System of Business Society, the price of urea in Shandong increased from 2515 yuan/ton at the beginning of the week to 2520 yuan/ton at the end of the week, an increase of 0.20%, and the weekend price decreased by 11.07% year-on-year.
From the supply side, the current operating rate of urea enterprises is around 80%, and the daily urea production in China is about 180000 tons. The mainstream urea manufacturers in Shandong saw a slight increase in factory prices during the week.
Details of the price of Yangquan anthracite coal this week
Variety/ March 4th/ March 10th/ Changes
Anthracite coal (washed lump)/ 1050 yuan/ton/ 1050 yuan/ton/ None
From the upstream market, there were ups and downs in the urea upstream market this week. The circulation of liquefied natural gas market was limited, the release of terminal demand was slow, and the trading atmosphere was poor. The price of liquefied natural gas fell by 2.53%, and the weekend price fell by 23.67% year-on-year. The price of liquid ammonia increased by 3.45%, and the weekend price fell by 27.38% year-on-year. However, the price of anthracite remains stable for the time being, with the price of Yangquan anthracite (washed lump) at 1050 yuan/ton over the weekend, indicating a continued weak trend in the coal market in the short term. Overall, upstream raw material prices fluctuate, providing moderate support for urea prices.
From the perspective of downstream demand: agricultural demand is gradually starting, and industrial demand is following the market. Composite fertilizer, board, and melamine enterprises are operating at a low level, with a focus on procurement for essential needs. The downstream price of melamine in urea has slightly increased this week, rising from 7450 yuan/ton at the beginning of the week to 7500 yuan/ton at the end of the week, an increase of 0.67%.
Looking ahead, the urea market in Shandong may experience a slight fluctuation and increase in mid to late March. Business Society urea analysts believe that the upstream urea market has ups and downs, and the cost support for urea is average. But downstream agricultural demand is gradually starting, with industrial primary demand. In the future, urea may experience a narrow range of fluctuations and mainly rise.
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