According to the Commodity Market Analysis System of Shengyi Society, as of October 29th, the reference average price of domestic urea market was 2175 yuan/ton, which is 0.83% higher than the reference average price of 2157 yuan/ton on October 1st.
2、 Market analysis
market conditions
The domestic urea market price fluctuated and rose in October, but then fell weakly. As of October 29th, the ex factory price of urea in Shandong region is around 1770-1810 yuan/ton, in Hebei region it is around 1810-1830 yuan/ton, in Henan region it is around 1810 yuan/ton, and in Liaoning region it is around 1890 yuan/ton.
According to the weekly K-bar chart from July 29, 2024 to October 21, 2024, it can be seen that the domestic ammonium sulfate cycle is fluctuating. The maximum increase in October was 0.93% in the week of the 10th and 7th, and the maximum decrease was -1.18% in the week of the 10th and 21st,
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, market trading is average, and transactions are limited. At present, the supply and demand are relatively balanced.
3、 Future forecast
Business Society’s urea analyst believes that the urea market has been steadily consolidating and operating in recent days. At present, there is no positive news in the market, with downstream demand being the main focus. It is expected that the domestic urea market prices will experience a slight consolidation and operation in the short term.
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