China urea prices rise by CNY30-40/tonne ahead of farming season

01 February 2012 05:45  [Source: ICIS news]

SINGAPORE (ICIS)--China’s urea prices in major domestic markets have risen by an average of yuan (CNY) 30-40/tonne ($4.75-6.30/tonne) ahead of the spring farming season, industry sources said on Wednesday.

The farming season takes place from February to April every year, according to the different climates in south and north China.

Urea prices have risen to CNY2,070-2,110/tonne EXW (ex-works) in Shandong, according to data from Chemease, an ICIS service in China.

Prices in the urea market in south China are up by CNY20-30/tonne, the data showed.

The prices in Jiangsu are at CNY2,080-2,160/tonne EXW, while those in Anhui are at CNY2,100-2,120/tonne EXW, according to the data.

In addition, the prices in Xinjiang and Shaanxi provinces in northwest China have increased by an average of CNY40/tonne to CNY1,950/tonne EXW.

According to a market player, the industry is expecting the prices to remain stable-to-firm in February and early March because of an inventory shortage since the end of last year and the farming season in spring.

($1 = CNY6.31)

By: Rachel Yang

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