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06 Dec 2024
The Dynamics of China's Urea Imports and Exports in October
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China's Urea Imports in October
In October 2024, China's total imports of urea amounted to $156,119, representing a month-on-month increase of 148.7%.
The total import volume was 80,776 kilograms, marking a month-on-month increase of 240.21%, with imports comping from 6 trading partner countries.
China's Urea Exports in October
In October 2024, China's total exports of urea reached $957,564, marking a month-on-month decrease of 99.54%.
The total export volume was 3,499,185 kilograms, representing a 99.38% month-on-month decrease.
China exported urea to a total of 4 trading partners.
Analysis of China's Urea Market in November
As of November 28, the average reference price for urea in China's domestic market stood at 1,981 yuan per ton, reflecting a 9.74% decrease from the November 1 average price of 2,195 yuan per ton.
In early November, urea prices in China showed slight fluctuations. Market supply decreased as some enterprises underwent maintenance, and many had outstanding orders to fulfill.
By mid-November, urea prices had declined. Supply outpaced demand, with downstream buyers primarily purchasing based on immediate needs. Procurement activity remained cautious, leading to a reduction in new orders.
In late November, urea prices stabilized within a narrow range, with steady trading activity in the market.
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