1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of March 21st, the reference average price of domestic urea market was 1923 yuan/ton, which is 2.45% higher than the reference average price of 1877 yuan/ton on March 17th.
2、 Market analysis
market conditions
This week, the domestic urea market has shown a strong upward trend. As of March 21st, the factory price of urea in Shandong region is around 1850-1900 yuan/ton, in Hebei region it is around 1880 yuan/ton, in Henan region it is around 1860 yuan/ton, in Hubei region it is around 1840 yuan/ton, and in Liaoning region it is around 1910 yuan/ton.
Supply and demand situation
On the supply side, the urea market has seen positive transactions this week, with companies actively shipping and reduced inventory levels. Some enterprises have parked their equipment, resulting in a decrease in market supply. In terms of demand, the downstream operating rate has increased this week, and the new order volume has also increased. Agricultural demand remains stable, while industrial demand has significantly increased.
3、 Future forecast
The urea analyst from Shengyi Society believes that the domestic urea prices have been running strong recently. At present, the market supply is tight and the demand side is well supported. It is expected that the domestic urea market prices will continue to rise in the short term.
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