Urea Production and Operating Rate in April 2024
Urea Production:
In April 2024, domestic urea production was approximately 5.4703 million tons, a month-on-month decrease of 3.70% and a year-on-year increase of 5.66%. From January to April 2024, the total domestic urea production accumulated to 21.5791 million tons, an increase of 2.1486 million tons compared to 19.4305 million tons in the same period last year, a year-on-year increase of 11.06%. This month, there were many short-term stoppages for industry equipment maintenance, and enterprises maintained high operating rates. The daily production rate did not change significantly from the previous month.
In April 2024, the average daily production of urea was about 182,300 tons, a decrease of 0.49% from the previous month's 183,200 tons, and an increase of 5.66% from 172,600 tons in the same period last year.
Urea Operating Rate:
In April 2024, the average monthly operating rate of the domestic urea industry was 84.68%, an increase of 0.21% from the previous month and an increase of 2.55% from the same period last year. From January to April 2024, the average operating rate of the domestic urea industry was about 81.85%, an increase of 4.54% from 77.32% in the same period last year. The monthly operating rate of the domestic urea industry increased, continuing to be higher than the same period last year. In the first half of this month, enterprises maintained high operating rates, with most equipment stoppages being short-term. From mid-month onwards, some enterprises had maintenance plans, causing a decline in the operating rate, but most production resumed by the end of the month, having little impact on the overall industry operating rate.
