China Urea Price Index:

According to Feiduo data, the urea small pellet price index on August 10 was 2,509.82, up 18.91 from yesterday, up 0.76% month-on-month, and up 4.69% year-on-year.

Urea futures market:

The opening price of the Urea UR2401 contract: 2039, the highest price: 2039, the lowest price: 1972, the settlement price: 1997, the closing price dropped by 62 compared with the settlement price of the previous trading day, and the month-on-month decline by 3.02%. The daily fluctuation range is 1972-2039, and the spread is 67; The 01 contract has increased its position by 22923 lots today, and has held 308100 lots so far.

Spot market analysis:

Today, the mainstream price in China's urea market has been raised overall, the market atmosphere is active, manufacturers have received better orders, quotations have been significantly increased, and secondary price adjustments have occurred in some regions.

Specifically, prices in Northeast China rose to 2,240 - 2,460 yuan/ton. Prices in North China rose to 2,350 - 2,580 yuan/ton. Prices in the northwest region are stable at 2,440 - 2,450 yuan/ton. Prices in Southwest China fell to 2,400 - 2,650 yuan/ton. Prices in East China rose to 2,490 - 2,580 yuan/ton. The price of small and medium-sized particles in Central China has stabilized at 2,450 - 2,650 yuan/ton, and the price of large particles has risen to 2,550 - 2,600 yuan/ton. Prices in South China rose to 2,650 - 2,700 yuan/ton.

Market outlook forecast:

In terms of supply and demand, China's daily urea production yesterday was around 174,000 tons, higher than the level of the same period in previous years. In addition, China's demand has entered the off-season, and fertilizer use has been relatively reduced. Overall China's demand is low, and pressure on China's urea market has begun to gradually emerge. In terms of compound fertilizers, under the strong support of the raw material market, the price of compound fertilizers showed an upward trend. The supply of low-end prices decreased. The market mainly cashed in previous orders. The market continued to operate in a stable, medium and strong manner. Some companies stopped reporting and collecting, and officially The factory price was increased, with a partial increase of around 100 yuan. Internationally, the stamp was announced yesterday that the price was higher. The bid price minus related expenses was much higher than the quoted price of China's urea factory, boosting the sentiment of the Chinese market. The market sentiment was significantly driven, and the overall atmosphere was significantly improved. In terms of futures, the main urea contract has been switched, and the January contract has replaced the September contract as the new main contract.

On the whole, affected by various favorable factors such as compound fertilizer procurement and Indian bid opening, the urea market has reversed the downward trend of prices that have continued to fall in the past few days. Prices in some regions have begun to rise. In the short term, prices may continue to be high.