Urea rise more than 100 yuan!
June 12, 2024, 9:21 AM
Urea net
3011
Guide
Highlights at a glance
The domestic urea market remained stable yesterday with slight price increases and moderate transaction activity. Current demand shows no significant improvement, supported only by sporadic small-scale agricultural orders, while compound fertilizer producers continue to face sales pressure and limited operational recovery. Plate companies operate at low capacity, focusing on cost-effective purchases. On the supply side, production declines and maintenance activities have reduced daily urea output to under 140,000 tons. Rising coal hoarding sentiment during summer has boosted anthracite demand and prices, contributing to a firmer raw material cost base. In the futures market, the urea main contract 2301 opened at 2,247 yuan/ton last Friday, closing at 2,336 yuan/ton, up 4.24% with strong trading volume and rising open interest. On August 15, the 2301 contract opened higher at 2,342 yuan/ton, indicating continued market strength. Overall, the short-term urea market is expected to fluctua
Yesterday, the domestic urea market was stable and some prices rose slightly, and the market transaction atmosphere was acceptable.
In terms of demand, the current demand has not improved substantially, and small agricultural orders have been followed up sporadically. Compound fertilizer companies still have pressure on production and sales, and the overall start-up improvement is limited. Plate companies maintain low-load operation, and they mainly purchase at bargain prices.
In terms of supply, there are currently many production reduction and maintenance enterprises, and the daily output of urea is less than 140,000 tons. In terms of raw materials, civilian traders are more motivated to hoard coal in summer, the anthracite market is relatively active, and prices are on the rise. It is expected that the short-term domestic urea market will mainly fluctuate slightly.
In terms of futures: the opening price of urea futures main contract 2301 last Friday was 2247 yuan/ton, the highest price was 2343 yuan/ton, the lowest price was 2234 yuan/ton, the closing price was 2336 yuan/ton, and the settlement price was 2296 yuan/ton, which was higher than the previous transaction. It rose 4.24% on the day, with 2301 trading volume of 133024 lots, open interest of 97827 lots, and +10546 lots.
On August 15, the opening price of 2301, the main contract of urea futures, was 2342 yuan/ton, up 46 yuan/ton.
In terms of demand, the current demand has not improved substantially, and small agricultural orders have been followed up sporadically. Compound fertilizer companies still have pressure on production and sales, and the overall start-up improvement is limited. Plate companies maintain low-load operation, and they mainly purchase at bargain prices.
In terms of supply, there are currently many production reduction and maintenance enterprises, and the daily output of urea is less than 140,000 tons. In terms of raw materials, civilian traders are more motivated to hoard coal in summer, the anthracite market is relatively active, and prices are on the rise. It is expected that the short-term domestic urea market will mainly fluctuate slightly.
In terms of futures: the opening price of urea futures main contract 2301 last Friday was 2247 yuan/ton, the highest price was 2343 yuan/ton, the lowest price was 2234 yuan/ton, the closing price was 2336 yuan/ton, and the settlement price was 2296 yuan/ton, which was higher than the previous transaction. It rose 4.24% on the day, with 2301 trading volume of 133024 lots, open interest of 97827 lots, and +10546 lots.
On August 15, the opening price of 2301, the main contract of urea futures, was 2342 yuan/ton, up 46 yuan/ton.
Recommended for you
-
International Fertilizer Market - Potash Giants Report First Quarter: Signs of Recovery in Potash Demand! Meanwhile, Russian Fertilizer Exports to the US Reach Annual High5000
-
Phosphate Fertilizer Weekly Report: Supported by Pending Orders and Costs, Firm Prices4752
-
Urea Weekly Review: Cautious Buying and Slow Follow-Up, Prices Hold Steady4801
-
Urea Daily Review: Weakened Supply-Demand Support, Enterprises Lower Prices to Attract Orders4734
-
Phosphate Fertilizer Daily Review: Pending Orders Support Prices, Stability in the Short Term4754
June 12, 2024, 9:21 AM
June 12, 2024, 9:21 AM
