1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of November 28th, the reference average price of the domestic urea market was 1981 yuan/ton, a decrease of 9.74% from the reference average price of 2195 yuan/ton on November 1st.

2、 Market analysis

market conditions

This month, the domestic urea market prices have weakened and fallen. In the first half of this month, domestic urea prices slightly adjusted. The supply of urea in the market has decreased, and some enterprises have undergone equipment maintenance, resulting in a large number of pending orders. In mid month, the domestic urea market prices fell. The market has strong supply and weak demand, and the supply of urea in the market has increased. Downstream purchases are mainly for essential needs, and procurement is relatively cautious, resulting in a decrease in new order volume in the market. At the end of this month, domestic urea prices were narrowly adjusted, and market trading remained stable. As of November 28th, the ex factory price of urea in Shandong region is around 1780-1810 yuan/ton, in Hebei region it is around 1820-1840 yuan/ton, in Henan region it is around 1800 yuan/ton, and in Liaoning region it is around 1900 yuan/ton.

According to the weekly K-bar chart from September 2, 2024 to November 18, 2024, it can be seen that the domestic urea cycle is characterized by ups and downs. The largest decline in November was -0.23% during the week of November 11th,

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

The urea analyst from Shengyi Society believes that the urea market has been slightly consolidating and operating recently. At present, there is no positive news in the market, and there is no significant fluctuation in the market. Terminal demand needs to be released. It is expected that the domestic urea market will mainly experience price consolidation in the short term.