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Daily Urea Review: Strong Support from Pending Shipments Continues to Bolster Firm Price Increases

June 12, 2024, 9:21 AM
Feidoodoo
987
This article discusses the current state and trends of the urea market, highlighting strong support from pending shipments that bolster firm price increases. The domestic urea small granule price index, as of May 13, 2024, shows a slight increase from the previous day, reflecting a general upward trend in market prices. The urea futures market is also active, with notable daily fluctuations. The spot market prices continue to rise due to ongoing supply contractions and robust demand, supported significantly by pending shipments that result in upward price adjustments across various regions in China. Despite high market prices, the enthusiasm for chasing higher prices is limited, leading to a cautious sentiment in the market. The article concludes that the urea market is expected to maintain high and firm price levels in the short term, with a gradual slowdown in the upward trend. This analysis provides insights into the dynamics affecting the urea market's pricing and supply-demand balance.