1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of August 7th, the reference average price of the domestic urea market was 2287 yuan/ton, a decrease of 1.80% from the reference average price of 2329 yuan/ton on August 1st.
2、 Market analysis
market conditions
This week, the domestic urea market prices have weakened and fallen. As of August 7th, the ex factory price of urea in Shandong region is around 2100-2140 yuan/ton, in Hebei region it is around 2110 yuan/ton, and in Henan region it is around 2120 yuan/ton.
Supply and demand situation
In terms of supply, the urea market currently has a relatively sufficient supply, with oversupply being the main factor. In terms of demand, agricultural demand maintains rigid procurement, while industrial demand remains weak. The operating rate and market of downstream compound fertilizers remain stable, with a focus on on-demand procurement of urea and mostly low-priced transactions.
3、 Future forecast
The urea analyst from Shengyi Society believes that the urea market trend has been weak and downward recently, with poor market inquiries and a light trading atmosphere. The market supply is sufficient, and the mentality of buying up and not buying down has increased. It is expected that the domestic urea market prices will decline in the short term.
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