1、 Price trend
| Gamma-PGA (gamma polyglutamic acid) |
According to the Commodity Market Analysis System of Shengyi Society, as of August 27th, the reference average price of the domestic urea market was 2197 yuan/ton, a decrease of 5.67% from the reference average price of 2329 yuan/ton on August 1st.
2、 Market analysis
market conditions
In August, the domestic urea market prices were weak and fell. As of August 27th, the ex factory price of urea in Shandong region is around 2010-2020 yuan/ton, in Hebei region it is around 2020 yuan/ton, in Henan region it is around 2000-2020 yuan/ton, and in Liaoning region it is around 2100 yuan/ton.
According to the weekly K-bar chart from May 27, 2024 to August 19, 2024, it can be seen that the domestic ammonium sulfate cycle is fluctuating. There was a significant decline in August, with the largest drop being -2.83% in the week of August 19th.
Supply and demand situation
In terms of supply, the urea market has ample supply this month. In terms of demand, agricultural demand maintains essential procurement. 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. With the gradual increase of supply, the market is dominated by oversupply.
3、 Future forecast
The urea analyst from Shengyi Society believes that the supply of urea in the market has increased, and the recent trend of the urea market is downward. At present, market demand is still high, and downstream buyers are seeking lower prices. The industry is mainly cautious. It is expected that the domestic urea market prices will continue to weaken and consolidate in the short term.
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