1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of September 30th, the reference average price of the domestic urea market was 2157 yuan/ton, which is 0.74% lower than the reference average price of 2172 yuan/ton on September 1st.

2、 Market analysis

market conditions

In September, the domestic urea market prices fluctuated and fluctuated. As of September 30th, the ex factory price of urea in Shandong region is around 1810-1840 yuan/ton, in Hebei region it is around 1860-1880 yuan/ton, in Henan region it is around 1830-1860 yuan/ton, and in Liaoning region it is around 1900 yuan/ton.

According to the weekly K-bar chart from July 1, 2024 to September 23, 2024, it can be seen that the domestic ammonium sulfate cycle is fluctuating. There was a significant increase in September, with the largest increase being 1.12% in the week of September 9th.

Supply and demand situation

In terms of supply, the urea market has ample supply this month. In terms of demand, agricultural demand maintains rigid procurement, and downstream purchases of urea are more cautious, with many low-priced transactions. At present, the market supply and demand are relatively balanced, and there is a strong wait-and-see atmosphere.

3、 Future forecast

Business Society’s urea analyst believes that the urea market has seen a slight increase in recent days. The demand for pre holiday stocking has increased, resulting in slight fluctuations in urea prices. It is expected that the domestic urea market will experience a narrow range of price consolidation and operation in the short term.