1、 Price trend

As of August 17th, the reference average price of urea market in Shandong Province, China is 1702 yuan/ton, which is 1.87% lower than the reference average price of 1755 yuan/ton on August 10th.
2、 Market analysis
market situation
This week, the domestic urea market is running weakly. The overall urea futures market is weak, which is bearish for the spot market. At present, the urea market has sufficient supply, but the market demand is still weak. As of August 17th, the urea market prices in Shandong are around 1650-1710 yuan/ton, Hebei is around 1690-1720 yuan/ton, Henan is around 1640-1700 yuan/ton, Hubei is around 1670-1710 yuan/ton, and Liaoning is around 1750-1790 yuan/ton.
supply and demand situation
In terms of supply, urea companies currently have a high operating rate and daily production remains high. In terms of demand, downstream compound fertilizer enterprises urgently need to purchase, and the demand for industry and agriculture is poor, resulting in limited new market transactions.
3、 Future forecast
Business Society’s urea analyst believes that the domestic urea market has been weak and declining recently. At present, the demand for urea in the market is weak, and the supply and demand situation has not improved yet. The market is mainly bearish. It is expected that the domestic urea market will weaken and consolidate in the short term.