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Urea prices may stabilize
The Ministry of Commerce of the People's Republic of China on the 22nd business forecast, the recent dealers to reduce procurement, market volume decreased, urea prices fell for the third week in a row. The monitoring showed that domestic urea prices fell by 0.6% from the previous week last week (December 13 to 19). After the increase of export tariffs on fertilizers, enterprises in the northeast and north China postponed their off-season reserves for chemical fertilizers, and market demand declined. Ex-factory prices for urea in Shanxi, Hebei, and Shandong fell by 1.5%, 1.3%, and 1.3% respectively from the previous week. However, the inventory of fertilizers is currently low overall. With the late-stage enterprises' centralized restocking, the transaction volume will increase. Urea prices are expected to stabilize.