1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of August 15th, the reference average price of domestic urea market was 1762 yuan/ton, which is 1.67% lower than the reference average price of 1792 yuan/ton on August 10th.
2、 Market analysis
market situation
This week, the domestic urea market prices have weakened and fallen. This week, the urea futures market prices have been weak and declining, and the spot market has followed the trend of the futures market to weaken. As of August 15th, the urea market prices in Shandong are around 1680-1780 yuan/ton, Hebei is around 1700-1780 yuan/ton, Henan is around 1650-1750 yuan/ton, Hubei is around 1740 yuan/ton, and Liaoning is around 1760 yuan/ton.
Supply and demand situation
This week, the domestic urea market is experiencing oversupply. On the supply side, during the maintenance of some urea plants this week, the daily production has decreased, but the market supply is still sufficient. In terms of demand, the agricultural demand for urea in autumn has entered the off-season, and downstream compound fertilizer manufacturers urgently need to purchase.
3、 Future forecast
Business Society’s urea analyst believes that the domestic urea market has been weak and declining recently. At present, the inventory of urea market is still high, downstream demand is poor, and procurement enthusiasm is not high. It is expected that in the short term, domestic urea prices will mainly experience a weak downward trend.