Supply Shocks and Strategic Pivots: Key Moves in the Fertilizer Market
Today's review of the global fertilizer market reveals a mix of anticipation, sudden disruptions, and long-term strategic decisions.
The global urea market is holding its breath for the outcome of the Indian tender, which is expected to set the market tone for the coming weeks. Meanwhile, price pressure is evident in the US, partly due to unsold Russian volumes , and in Iran, where full warehouses are forcing producers to revise their offers.
However, the real dynamic is unfolding elsewhere:
AMMONIA SUPPLY SHOCK: An unexpected, potentially two-month production halt at a key Ma'aden facility in Saudi Arabia could significantly tighten global supply in the short term.
STRATEGIC PIVOT IN THE US: Simultaneously, Yara and BASF have cancelled their joint low-carbon ammonia project, sending a significant signal about the future of 'green' fertilizers.
LONG-TERM MOVES: In India, PPL is securing its future by signing a long-term phosphate rock supply agreement with OCP , while the US government is considering listing potash as a critical mineral.
Interesting news from China recently which I found out today, the government are cancelling all the rebates for Russian and Iranian cargoes so these origins will lose their attraction in the Chinese market
OCP pushing TSP like crazy in India, discounting the 46 P2O5 in TSP by $50-70/t compared to DAP prices, bizarre. Indians like a bargain. I have to ask Tom McIvor about this.
On August 27, 2025, the total inventory of China's urea enterprises stood at 1,085,800 tons, an increase of 61,900 tons compared to the previous week, representing a month-over-month increase of 6.05%. During this period, domestic urea prices fluctuated at low levels, domestic demand growth was slow, and some enterprises experienced shipments that did not meet expectations, leading to a slight increase in inventory. A few enterprises experienced a slight decrease in inventory due to factors such as export orders and equipment maintenance. However, overall, the inventory continued to rise. The provinces with increased enterprise inventory include Anhui, Hainan, Henan, Jiangsu, Inner Mongolia, Shandong, Shanxi, Shaanxi, and Sichuan. The provinces with decreased enterprise inventory include Hebei, Heilongjiang, Hubei, Qinghai, Xinjiang, and Yunnan.
Oil prices fell 2% on Tuesday, erasing gains from the previous session, as investors watched developments around U.S. tariffs, the war in Ukraine and the potential disruption of Russian fuel supplies.
Brent crude was down $1.58, or 2.3%, at $67.22 a barrel, a day after hitting its highest price since early August. West Texas Intermediate (WTI) crude lost $1.55, or about 2.4%, to $63.25.
"Given the huge amount of uncertainties in the oil market caused by the Ukrainian conflict and the tariff war, investors will remain unwilling to commit themselves to either direction on a prolonged basis," said Tamas Varga, an analyst with PVM Oil Associates.
Brent prices could be bound to a trading range of $65-$74 for the foreseeable future, he added.
Oil's rally on Monday was primarily driven by supply risks after Ukraine strikes on Russian energy infrastructure and the possibility of further U.S. sanctions on Russian oil.
Ukraine's attacks in response to Russia's advances in the conflict and its pounding of Ukrainian gas and power facilities have disrupted Moscow's oil processing and exports and created gasoline shortages in some parts of Russia.
Russia has revised up its crude oil export plan from western ports by 200,000 barrels per day in August from the initial schedule after Ukrainian drone attacks disrupted refinery operations and freed up more crude for shipment, three people familiar with the matter said.
U.S. President Donald Trump has renewed his threat to impose sanctions on Russia if there is no progress towards a peace deal in the next two weeks.
However, sources have told Reuters that U.S. and Russian government officials discussed several energy deals on the sidelines of this month's negotiations to seek peace in Ukraine.
Meanwhile, Indian exports could face U.S. duties of up to 50% – among the highest imposed by Washington.
"Front and center in this week's trade is the possibility that U.S. tariffs on India could be doubled to 50% as early as tomorrow … further restricting Russian export flows that are already being inhibited by recent Ukrainian attacks on Russian oil refineries," analysts at energy advisory firm Ritterbusch and Associates said in a note.
China Fertilizer Industry Chain Morning Brief – August 26, 2025
❤️ Sulfur: Yesterday, the domestic sulfur spot market remained intensely active. The reference price for granular sulfur at ports was ¥2585–¥2600/ton. With the continued high-level upward trend, most industry participants are in a state of emotional tension. The USD and RMB prices are currently roughly equal. Demand from the Chinese market may continue to support high USD quotations. Domestic supply remains stable, and shipments are smooth. The liquid sulfur market in Shandong is mainly stable in price, with downstream receiving slightly weak. Today, focus on the results of large refinery tenders and price adjustments from major refineries.
❤️ Urea: Although urea prices have returned to near previous lows, new orders from enterprises have not yet improved. With insufficient short-term effective bullish factors, prices are likely to make another slight downward adjustment, which may bring a wave of transactions and buffer the declining trend.
❤️ Synthetic Ammonia: Yesterday, the synthetic ammonia market continued to show a stable-to-declining trend. Equipment previously under fault or maintenance is gradually resuming operation. Some enterprises have increased commodity ammonia volume due to downstream faults, and market trading sentiment is cautious. It is expected that the ammonia market will continue to operate weakly, with prices unlikely to rise significantly in the short term.
❤️ Ammonium Chloride: Yesterday, the ammonium chloride market operated weakly, with average trading atmosphere. Downstream compound fertilizer enterprises showed low enthusiasm for receiving goods, mainly digesting previous inventory. New orders from ammonium chloride enterprises were poorly received. Most are executing previously scheduled deliveries before the end of the month. It is expected that the focus of new order negotiations may shift downward.
❤️ Ammonium Sulfate: Yesterday, the ammonium sulfate market tended toward stability and observation. In the short term, the market lacks bullish support. The northern market is affected by parade-related traffic and vehicle control, and the trading atmosphere is weak. It is expected that the ammonium sulfate market will show slight loosening in the short term.
❤️ Melamine: Yesterday, the domestic melamine market operated steadily with some adjustments. Currently, regional differentiation in the market is obvious. Enterprises are flexibly adjusting prices based on their own shipment situations, waiting for a new round of bullish support.
❤️ Phosphate Fertilizer: Yesterday, the domestic monoammonium phosphate market maintained a flat operation. The mainstream ex-factory price for Hubei 55% powder was around ¥3400/ton, with transactions based on actual negotiations. Although raw material sulfur prices continue to rise, downstream demand remains weak. New order follow-up is limited, trading is sluggish, and the market is expected to continue in a stalemate and consolidation in the short term. Yesterday, the domestic diammonium phosphate market showed limited fluctuation. Enterprise ex-factory prices remained mainly stable. Cost pressure continues, but demand performance is average. Downstream mainly purchases as needed, with strong overall wait-and-see sentiment. The market is expected to continue a consolidation trend in the short term.
❤️ Potash Fertilizer: Yesterday, the domestic potassium chloride market was relatively flat. With downstream factory raw material procurement demand weakening, market prices remain temporarily stable. Imported 62% white potash prices mostly ranged from ¥3150–¥3550/ton, varying by port. Domestic potassium sulfate prices showed no significant changes, but overall shipments were not active, and transactions were negotiated individually.
❤️ Compound Fertilizer: Yesterday, the domestic compound fertilizer market continued to advance steadily. With weak urea and insufficient confidence from mid- and downstream sectors, autumn fertilizer sales volume still needs improvement. Enterprises mainly focused on digesting inventory, with low short-term adjustment intentions. It is expected that the compound fertilizer market will continue stable operation in the short term, with focus on the downward movement of goods.
On point 1, I read that Ukrainian farmers are lobbying their government to lift the ban on transporting nitrogen fertilisers by sea. If the ban stays in place, they’re expecting yields could drop by as much as 30%. At the moment, we’ve got a vessel in Ukraine discharging TSP and GMOP, and the surveyors have had to spend about a fifth of the operation down in an air raid bunker.
It does make you wonder about what would happen if the UK was in another war… As unlike Ukraine, the UK doesn’t have the advantage of being connected to other importing countries by road or river networks. If we ever found ourselves at war, we simply couldn’t afford to halt imports of nitrogen fertilisers. We’re only around 60% self sufficient as it is and if you remove imported animal feeds, fertilisers, and pesticides, I suspect that figure would be quite concerning
Above cargoes allowed to be by the Iran Urea National Committee because of high inventory – this will be published tomorrow
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Indian urea inventories fell by 2.46mn t last month, marking the steepest monthly drawdown in stocks on Argus's record.
The country's urea sales rocketed to 5.4mn t in July, setting a fresh sales record for any month, in line with provisional data which emerged in the first week of August. The surge in sales outstripped combined production of 2.57mn t and imports of 407,000t.
The stock drawdown in July was greater than the cut of 2.32mn t in July 2020. Argus estimates India's urea inventories ended July at around 4.3mn t, compared with 8.7mn t at the end of the month last year.
A strong start to the monsoon rain period and tight supply of DAP have encouraged Indian urea sales. Urea offtake typically peaks in July-August for the summer Kharif season
The global potash market in 2025 is at a turning point. Geopolitical tensions in the Black Sea and growing demand from Brazil are driving significant shifts in fertilizer trade flows. With sanctions, trade barriers, and investment surges, the fertilizer sector is redefining its supply strategies.
Black Sea Becomes Fertilizer Epicentre
The Russia-Ukraine conflict has turned the Black Sea into a fertilizer battlefield. The port of Odessa, once a key export hub for grain and fertilizers, remains under heavy attack. Reports of “stolen grain” exports from occupied territories further complicate global trade flows.
Russia and Belarus, two of the world’s top potash suppliers, continue to face sanctions and logistics barriers. Lithuania blocked Belarusian fertilizer exports through the Baltic Sea, forcing the country to rely heavily on Russia for transport. Meanwhile, Finland’s closure of its border with Russia disrupted potash shipments even before new sanctions took effect.
Potash Supplies and BRICS Shift
Despite Western restrictions, BRICS countries are strengthening their position in the fertilizer trade. In 2024, Russia exported over 50% of its 63 million tonnes of fertilizers to BRICS markets. Brazil, in particular, emerged as the largest growth driver, with fertilizer imports rising from 10.18 million tonnes in early 2024 to 11.54 million tonnes in the same period of 2025.
Brazil’s hunger for fertilizers, especially potash, has attracted global investment. Eurochem invested $1 billion in a new phosphate facility, while Mosaic set up a major blending and distribution plant in Tocantins. These moves highlight Brazil’s growing role as the leading BRICS fertilizer hub.
Brazil Potash Project Gains Momentum
Brazil Potash’s Autazes Project is central to reducing the country’s import dependence. The company signed a strategic deal with Fictor Group to build power transmission infrastructure worth $200 million. This agreement trimmed nearly 8% of the project’s total capital costs and boosted investor confidence. Brazil expects its first domestic potash mine by 2029, which will change the balance of global supply.
Tariffs and Delays Hit North America
In North America, rising tariffs and cost blowouts are reshaping potash strategies. U.S. fertilizer affordability fell sharply, while Canada considers creating a potash reserve under its critical minerals framework. Meanwhile, BHP’s Jansen mine faced a $1.7 billion cost increase, delaying production until mid-2027.
Global Fertilizer Market Outlook
Potash remains one of the most reliable fertilizers compared to nitrogen and phosphate, which face disruptions from China’s export controls and Middle East conflicts. Russia, the world’s largest fertilizer exporter, continues to dominate global supply despite sanctions.
The global potash market in 2025 highlights three key trends:
Geopolitical risks in the Black Sea are disrupting traditional trade routes.
Brazil’s rising demand is pulling investments and shaping new supply chains.
Western tariffs and sanctions are shifting potash flows toward BRICS nations.
As agriculture faces increasing pressure to secure fertilizer supplies, potash will remain at the center of global food security.
India government:
In a statement issued Friday, the Ministry of Chemicals and Fertilisers said that for the 2025 kharif season, against the pro-rata requirement of 14.3 mnt of urea, total availability is 18.3 mnt, with sales so far recorded at 15.5 mnt.
▪️ Similarly, for DAP, the total availability for kharif 2025 is 4.9 mnt against a pro-rata requirement of 4.5 mnt, with sales of 3.3 mnt already completed.
▪️ In the case of NPKs, the total availability is around 9.7 mnt this kharif season, the Central government said, against a pro-rata requirement of 5.8 mnt. Of this, around 6.45 mnt have already been sold, the statement added.
▪️ As evident from the data above, the availability of fertilisers has remained comfortable during the ongoing season so far. It is noteworthy that as of 20 August 2025, urea sales have increased by over 1.3 mnt compared to the same period last year. Despite this increase in sales, the Department of Fertilisers has ensured uninterrupted availability of urea across the country by maximizing domestic production and procurement through global tenders,” the statement said.
▪️ It further mentioned that the prevalent geopolitical situation has affected fertiliser supplies to the country.
▪️ The ongoing Red Sea crisis has disrupted supplies to India, resulting in the re-routing of shipments via the Cape of Good Hope, adding over 6,500 km to the journey.
▪️ “This has significantly increased voyage time, particularly for DAP. Further, the Russia-Ukraine war and the Israel-Iran conflict have escalated fertiliser prices in the international market,” the statement added.
▪️ However, despite all these challenges, the Central government has ensured that farmers do not face any scarcity through diplomatic engagements, logistical interventions, and long-term arrangements.
▪️ “A supply arrangement of 2.5 mnt of DAP has been secured between a consortium of Indian fertiliser companies and Morocco. Furthermore, in July 2025, a Long-Term Agreement (LTA) was signed between Saudi Arabia and Indian companies for the annual supply of 3.1 million tonnes of DAP for five years, starting 2025-26,” the statement said.
▪️ These robust international engagements are aimed at securing India’s long-term fertiliser needs and ensuring timely supply to states.
*China Chain Morning Brief (August 25, 2025)
Phosphate Rock: The domestic phosphate rock market maintains stable operations, with production companies delivering goods according to plan. The downstream phosphate fertilizer industry has maintained an operating rate of around 60% recently, with phosphate rock demand remaining relatively stable. Prices are expected to maintain a relatively firm stance in the short term.
Monoammonium Phosphate (MAP): Last week, the domestic MAP market maintained consolidation. With the second batch of export quotas clarified, market participants mostly adopted a wait-and-see approach. Factories continued to execute pending orders with no obvious price changes. Downstream compound fertilizer capacity utilization declined, with raw material purchases driven by just-in-time demand and limited follow-up on new orders. Overall, the short-term trend continues in a wait-and-see consolidation pattern.
Last week, the domestic diammonium phosphate (DAP) market continued its deadlock and wait-and-see stance. Enterprise ex-factory prices showed no obvious fluctuation, with 64% grade DAP in Hubei maintaining ex-factory prices of 3,800-3,850 yuan/ton, subject to actual negotiations. Downstream maintained on-demand purchasing, market trading activity needs improvement, and the market maintains consolidation in the short term.
Industrial Grade MAP: Last week, the industrial grade MAP market weakened and consolidated. Domestic 73% industrial grade MAP mainstream market average reference price was around 5,825 yuan/ton, with actual negotiations on a case-by-case basis. Companies still focus on exports and new energy sectors, with factories mainly shipping goods while market wait-and-see sentiment remains strong. Industrial MAP market changes are expected to be limited in the short term, with future developments depending on enterprise operations and raw material conditions.
Yellow Phosphorus: Currently, yellow phosphorus maintains a stable deadlock, with future direction’s core driving factors depending on downstream demand recovery and upstream production enterprise operations and inventory changes. Last week’s market trading activity was low, with downstream factories and traders showing extremely low willingness to purchase at high prices. Yellow phosphorus companies are similarly in a wait-and-see state, not rushing to adjust shipments. Short-term supply and demand continue in deadlock competition, awaiting directional breakthrough. Last week, Yunnan and Sichuan yellow phosphorus ex-factory acceptance reference was 22,700-22,800 yuan/ton, Guizhou ex-factory acceptance reference was 22,800-22,850 yuan/ton, mainly subject to actual negotiations.
Phosphoric Acid: Last week, the thermal phosphoric acid market presented a “cost push vs. demand suppression” competitive landscape. Affected by continuous yellow phosphorus price increases, early low-price sources have been basically digested. However, downstream customers maintain just-in-time purchasing rhythm, with obviously constraining supply-demand fundamentals limiting upward price space and increasing market wait-and-see sentiment. The wet-process purified phosphoric acid market continues stable operations with bland demand performance. Downstream new energy material companies maintain just-in-time purchasing, with limited market price volatility expected in the short term. Sichuan thermal phosphoric acid purified water ex-factory reference is 6,400-6,450 yuan/ton, southern Jiangsu purified water delivered around 6,700-6,800 yuan/ton, with actual orders negotiated by volume.
Dicalcium Phosphate: Yunnan regional trading market mainstream reference price is 3,050 yuan/ton; Sichuan trading market mainstream reference price is 2,980-3,150 yuan/ton; Hubei trading market mainstream reference price is 3,250 yuan/ton; Yunnan monocalcium phosphate market mainstream price reference is 4,250 yuan/ton, Guizhou monocalcium phosphate market mainstream price reference is 4,300 yuan/ton (limited sources); Yunnan dicalcium phosphate market price reference is 4,750 yuan/ton, Guizhou dicalcium phosphate market price reference is 4,850 yuan/ton.
Pesticides: The glyphosate market shows a stable-to-strong trend, with mainstream transaction prices continuing at high levels. Recent overseas formulation orders have increased, with operators’ expectations rising. Reference 95% glyphosate technical material at 27,500 yuan/ton, with actual transactions negotiated case-by-case.
Sulfur: Last week, the domestic sulfur market emerged as a dark horse, with market trends continuing high-level upward movement. Reference prices at 2,515-2,580 yuan/ton. At last week’s Asia-Pacific Phosphorus, Sulfur and Fertilizer Industry Conference held by Longzhong Information in Shanghai, business negotiations at the conference also became intense, with the USD market again reporting high-end quotes of CFR China 305-310 USD/ton. Spot market terminal supplementary demand provided support, reactivating the market. Domestic production simultaneously rose broadly, with refineries shipping smoothly and downstream actively replenishing inventory. Today’s focus is on spot market trading conditions.
Sulfuric Acid: Last week, the domestic sulfuric acid market showed regional differentiation. In Yunnan, downstream fertilizer companies generally maintained high operating rates, forming strong support for sulfuric acid raw material demand, with two major acid plants raising prices by 30 yuan/ton. In Zhejiang, due to Shaoxing acid plant maintenance and increased self-consumption at Ningbo acid plant, regional sulfur acid supply became tight, pushing provincial acid prices up. In Inner Mongolia’s Bayannur, some acid companies have production cuts or maintenance, keeping market supply low recently, plus major acid companies have maintenance plans next month, prices rose 30-50 yuan/ton. In Shandong, downstream compound fertilizer seasonal just-in-time purchasing and other titanium dioxide chemical demands showed no obvious benefits, with individual acid companies’ inventory slightly rising and Jiaodong acid companies reducing prices. Currently, Yunnan market 98% smelting acid delivered price is 750-800 yuan/ton. Shandong region 98% smelting acid ex-factory price centers around 500-700 yuan/ton.
Iron Phosphate: Anhydrous iron phosphate remains generally stable with minor local fluctuations. Mainstream quotation ranges still concentrate at 10,000-11,000 yuan/ton, with intensified competition in mid-to-low-end market quotations and industry-wide profit margins under pressure. Raw material performance varies, with industrial grade MAP market running weakly, mainstream hydrogen peroxide quotations rising, and other raw materials mainly stable. Downstream, lithium carbonate’s intertwining of bullish and bearish factors significantly intensifies intraday volatility, with prices showing wide-range oscillation patterns. This drives obvious upward and downward performance in lithium iron phosphate prices, but processing fee increases remain difficult with fierce market competition and limited downstream price support for iron phosphate. Prices are expected to maintain competitive operations.
Lithium Iron Phosphate: Lithium iron phosphate market prices remain temporarily stable. Lithium carbonate futures and spot prices declined slightly; iron phosphate company prices remain temporarily stable with relatively intense market competition; overall, lithium iron phosphate cost support has weakened. Terminal new energy vehicle weekly sales showed slight growth, with new energy vehicle penetration rate improving and terminal demand support somewhat boosted. Macroeconomically, tariff adjustments and countermeasures continue to moderate. Short-term expectations are for lithium iron phosphate to fluctuate according to raw material cost logic. Today, power-type lithium iron phosphate market transaction prices are 34,900-37,900 yuan/ton, energy storage-type lithium iron phosphate market transaction prices are 33,900-36,000 yuan/ton.
Synthetic Ammonia: Last week, the synthetic ammonia market showed weak supply and demand, with overall trends first declining then stabilizing. Equipment failures and maintenance companies increased during the week, with previous market negative sentiment somewhat improving and relatively better goods movement in some regions. Regional adjustments are expected in the ammonia market going forward.
Compound Fertilizer: Last week, domestic compound fertilizer market conditions continued consolidation trends. With shortened autumn fertilizer stocking time, market goods movement is increasing, and raw material export news also slightly boosted sentiment, but overall price adjustments were minimal. Short-term compound fertilizer continues fulfilling previous orders, with the market continuing stable consolidation trends.
Hydrogen Peroxide:* Last week, northern hydrogen peroxide market focus remained stable. Supply remained basically stable, major hydrogen peroxide companies’ inventory faced no pressure for now, suppliers digested price increases, downstream took goods based on just-in-time needs, and market trading atmosphere was good. In Anhui region, supply-side equipment operations remained stable, order deliveries were normal, high-end prices saw small-volume transactions, with major production areas in north and south expected to operate mainly with oscillations.
Analysis of China Urin Market Supply and Demand and Future Market Forecast
I. Supply side: Production is expected to increase slightly next week
Next week, China's weekly urea output is expected to be around 1.36 million tons, slightly higher than the current period. Specifically, in the next cycle, it is expected that 1-2 companies plan to park, but at the same time, 3-5 companies that previously parked will resume production. Taking into account the short-term enterprise failure factors that may occur, the probability of a small increase in urea production in the next cycle is greater, following the trend of the previous cycle.
2. Demand side: high export dependence and weak agricultural and industrial demand
At present, the urea market still needs to be boosted by export news, with both agricultural and industrial demand showing modest performance:
· Agricultural demand: China's summer urea harvest has almost completely ended, and while the availability of late autumn wheat fertilizers is early, most traders choose to remain on the sidelines and are less motivated to purchase urea.
· Industrial demand: Affected by the pressure on the shipment of finished waste chemicals, the operating rate of waste chemistry enterprises is on the decline;In the future, affected by the military parade, industrial enterprises such as plate mills may face production cuts or even stoppages, further weakening the demand for urea industry.
III. Inventory: Enterprise inventories are expected to fall, and port inventories remain stable
· Corporate inventories: With recent export news still providing a temporary boost to the market, corporate inventories are expected to fall from their highs.
· Port inventory: Port inventory is expected to maintain its current level of operation as the current pace of port catchment is accelerated and departures are carried out in synchrony with catchment.
IV. Raw material end: overall cost stability
In the short term, coal and natural gas prices do not fluctuate significantly, and the cost of raw materials required for urea production remains basically stable, and will continue this trend.
V. Future Market Forecast
(i) Short-term conclusions
In the absence of obvious positive news stimulus, the urea market is likely to continue to be under pressure in the short term. However, changes in export policy and the actual level of domestic demand release will be key factors that will dominate the short-term trend of the urea market.
(ii) Medium- and long-term conclusions
Although some enterprises entered the maintenance and parking phase in the third quarter, with the release of new capacity near, the overall oversupply of urea is difficult to change. Although the orderly promotion of exports can inject momentum into the market, downstream users and intermediate traders are not enthusiastic about urea recovery, and the industry generally maintains a rational attitude to the future market. Taken together, there is an expectation of a period of strengthening in market prices, stimulated by export news.
Urin industry profit analysis and next week forecast (as of August 21)
I. Current profits (as of August 21)
According to data from RUNTO Information, the profits and month-on-month changes of domestic urea processes as of August 21 are as follows:
· Fixed bed process: profit was -157 yuan / ton, up 40 yuan a ton from the previous period
· New coal gasification process: profit reached 246 yuan / ton, up 4 yuan a ton from the previous period
· Natural gas process: profit was -185 yuan / ton, unchanged from the previous period
During the cycle, the profit of new coal-gasified urea slightly increased, while natural gas-based urea continued to be in a loss state. During this period, coal prices rose slightly, driving a slight increase in costs. At the same time, urea prices rose slightly, boosted by export news, jointly driving the overall profit of the urea industry up.
II. Urea costs and profit estimates
Since the previous profit accounting referenced the Jinan coal price (which was relatively high), if the actual market coal price is estimated, the cost and profit level of the mainstream regional urea industry in China is as follows:
(i) Cost level
· Full cost of the stationary bed process: approximately 1,600-1,700 yuan / ton
· The full cost of the new coal gasification process: about 1,400-1,500 yuan / ton
(2) Profit levels
The profit level of enterprises in mainstream regions is about 100-300 yuan / ton.
III. Profit forecast for next week
The expected changes in domestic urea sample profits and prices next week are as follows:
· Fixed bed process: profit is expected to remain at around -157 yuan / ton, not significantly changed from this week
· New coal gasification process: profit is expected to be around 250 yuan / ton, relatively stable compared to this week
· Natural gas process: Profit is expected to remain around -185 yuan / ton, no significant fluctuation from this week
Overall, domestic urea prices may adjust narrowly next week, and industry profits will also fluctuate, but the increase and fall are expected to be small.