Urea Futures Market
Today, the urea UR2401 contract opened at 2212, with the highest price at 2214, the lowest at 2142, the settlement price at 2166, and the closing price at 2154. The closing price fell 60 compared to the settlement price of the previous trading day, a decrease of 2.71% in comparison, with a full-day fluctuation range of 2142-2214 and a price difference of 72; The 01 contract reduced 22,073 hands today, with the current holdings at 310,669 hands.
Spot Market Analysis:
Today, the overall domestic urea market price is being adjusted downwards, as companies are reducing prices to attract orders before the National Day holiday, with the reduction range varying from 10-80 yuan/ton.
Specifically, prices in the Northeast region have fallen to 2540-2620 yuan/ton. North China prices have fallen to 2340-2610 yuan/ton. Northwest prices have fallen to 2480-2490 yuan/ton. Prices in the Southwest region remained stable at 2450-2800 yuan/ton. Prices in the East China region have fallen to 2520-2590 yuan/ton. Prices of small granules in the Central China region have fallen to 2460-2700 yuan/ton, while large granules have fallen to 2500-2600 yuan/ton. Prices in the South China region have fallen to 2620-2730 yuan/ton.
Market Forecast:
In terms of supply, currently, maintenance facilities have been gradually resuming, daily production is continuously rising, market supply is turning loose, and with the gradual commissioning of new production capacities, daily production is expected to increase significantly. On the enterprise side, the current pending orders are gradually increasing; as the National Day holiday approaches, most companies are reducing prices to attract orders. In terms of demand, downstream purchasing enthusiasm is still relatively weak, mainly focusing on just-in-time inventory replenishment, with the market atmosphere relatively dull.
Overall, the current supply is continuously recovering, companies are gradually reducing prices to attract orders, and the urea market price is expected to mainly decline in the short term, with the need to continue to pay attention to the increase in daily production.
