Owing to an Oversupply, Urea Prices Dropped this Week
By CnAgri2018-03-16 13:38:46
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Judging from BOABC’s monitoring data of main ex-factory prices of urea in key provinces, urea ex-factory prices in all provinces except for Xinjiang dropped, of which the decline in Hebei was 64 RMB/MT, highest; the decline in Hubei was 21 RMB/MT, lowest. The national average decline was around 31 RMB/MT. An oversupply is the main reason for a drop in prices.
In the aspect of supply, along with urea companies resuming production after Chinese New Year, the operating rate improved quickly. By the end of March 9, the operating rate of urea sector had reached 62%, 13 % from that before Chinese New Year. Urea output increased by 18,300 MT/day. Because of a rapid increase in supply, urea can’t be consumed in a short time, lying the foundation for a drop in urea prices.
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