During the second half of June xxxx, the global Urea market exhibited divergent trend. Prices remained stable in the Chinese market but significantly declined in the North American market. The declining cost of essential feedstock material, ammonia, during the same period, led to reduced production expenses, thereby exerting downward pressure on Urea prices. Further, demand from the downstream fertilizer market remained stable, with modest inquiries noted. Despite favourable weather conditions for crop planting, the North American Urea market exhibited a bearish trend.
During the second half of June xxxx, the Chinese Urea market exhibited a phase of stagnation following a continuous decline in the preceding weeks. Despite the decreasing prices of essential feedstock material ammonia during this period, the cost pressure on Urea prices remained limited. Insights gathered from various market participants suggest that Urea demand has been low this week, as the primary application season has...
