Urea market temporarily stable, local test rose

During the weekend, the domestic urea market was basically stable, with local exploratory rise of RMB 10-50/ton. Recently, traders' orders to Hong Kong have temporarily eased the pressure on domestic sales. However, transactions in the domestic market remained flat, coupled with continuous rainfall in the past two days in the north, slight delays in corn harvests, and the unavailability of supplies in the agricultural sector. In the industrial sector, many purchases are on-demand, and thus the current price tends to rise. In addition, India will also open bids this week. The volume and price situation will affect the next domestic trend. However, according to the current domestic prices, there is not much room for fluctuation if the gap is small. Nitrogen fertilizer analyst Wu Yuanli expects that domestic urea prices will temporarily stabilize before the opening of bids in India.