1、 Price trend
As of September 22, the reference average price of urea market in Shandong Province, China was 1767 yuan/ton, which was 1.94% lower than the reference average price of 1802 yuan/ton on September 16.
2、 Market analysis
market situation
Recently, the domestic urea market has been weak and declining. The urea market is oversupplied. The impact of the release of urea export quotas has weakened. As of September 22, the urea market prices in Shandong are around 1700-1770 yuan/ton, Hebei is around 1740-1780 yuan/ton, Henan is around 1700-1750 yuan/ton, Hubei is around 1680-1740 yuan/ton, and Liaoning is around 1780-1800 yuan/ton.
Supply and demand situation
In terms of supply, the urea market is currently well supplied, and inventory remains high. The equipment may gradually resume production in the later stage. In terms of demand, downstream compound fertilizer enterprises have insufficient purchasing enthusiasm, agricultural fertilizer preparation has not yet accelerated, and there is no significant improvement on the demand side.
3、 Future forecast
Analysts believe that the domestic urea market has been declining recently. Autumn fertilizer preparation is approaching, but the demand for urea has not yet been released, resulting in a high market inventory. It is expected that domestic urea prices will mainly fluctuate in the short term.
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