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Sinopec News: Urea prices remain stable with slight declines; immediate demand slowdown continues
The domestic urea market remains stable with minor fluctuations, and trading activity for new orders has slowed down.
As of April 30th, the average price of small granular urea in China is 1,896 yuan/ton, unchanged from April 23rd.
On the supply side, facilities in Inner Mongolia and other regions are resuming production or increasing output, leading to a localized increase in spot supply.
On the demand side, agricultural rigid demand is sporadically following up, while industrial demand is becoming more cautious.
Currently, the domestic urea market trading atmosphere is weakening, and the willingness for rigid demand procurement is slowing down.
As demand softens, the follow-up of industrial and agricultural rigid demand procurement is also slowing, and there is a possibility of a slight decline in domestic urea prices. (Zhuochuang Information)