At the beginning of this month, the environmental high pressure restricts the downstream industrial production; the grass-roots level of agriculture is heavy and the purchasing enthusiasm is low; the operation rate of the urea industry continues to rise to about 59.90%, the overall market is weak, and the prices of multi land urea enterprises have fallen in succession. By March 10th, the relevant departments ordered some urea enterprises in Shanxi to stop production, and the rate of urea industry started slightly down to about 54.62%. Shandong and two river parts of urea enterprises were quoted at 20-50 yuan (tons price, the same below), while the downstream agricultural purchase intention was still not high, the support factor was limited and the price of urea turned again in March 16th. Since March 20th, the urea enterprises in Shanxi have resumed normal production. Some enterprises have recovered fully, the rate of urea industry starts to recover again, the market continues to run weak and the price of urea continues to decline. At the end of the month, the quotations of a few Shandong and other enterprises have rebounded slightly, but there has not been a trend and the quotations of individual enterprises have risen. Then fall again.

Compared with the end of last month, the price of the main stream in Shandong's two river areas has fallen by 90-130 yuan (ton price, the same below). The downstream wheat return to green agriculture needs to be basically finished, the industrial production has been resumed but slowly, the price of Linyi's delivery... The price of the main main factory in Shanxi has fallen by 60-70 yuan. Some urea enterprises which have stopped production due to environmental pressure have returned to normal production. Some small grain equipment which have been suspended for a long time will be out of the product. The price of the mainstream factory in Jiangsu and Anhui has fallen 90-110 yuan, and the enthusiasm of the lower reaches of the rice for the purchase of urea for rice is not high; The price of the main main factory in the north area was reduced to 1950-1980 yuan, and the quantity of urea arrived in the southeastern provinces was large. One of the large agricultural companies in Hunan indicated that the wholesale price of urea in the north of Hunan had dropped to 1960-2000 yuan, and the wholesale price of high urea in Southern Hunan was about 2100 yuan; the price of the large enterprises in Shaanxi was stable, and the price of the factory was reduced to... ... Gansu main stream quotation is about 1940 yuan, a big factory in Ningxia has been out of products; the main stream quotation of Ningxia in Sichuan and Chongqing has fallen down, and some of Sichuan's urea enterprises are very heavy, but the deal has a large space to talk about, and the price of the main stream in Chongqing is about 1900 yuan. The mainstream factory quotation in Yunnan is temporarily stable at 2080-2250 yuan, and the mainstream factory quoted price in Guangxi is reduced to 2120-2250 yuan, and the high-end quotation is ready to fall. The stock pressure of the enterprises and agricultural companies in Xinjiang is large, and the enthusiasm for agricultural procurement is still low, so the market wholesale upside down is serious. The enterprises are willing to have a strong price, and deal with them generally. At present, they are relieved sales pressure by outcoming, and the factory is only sold. The mainstream factory quoted price in Inner Mongolia has dropped by 50-100 yuan, and the low end turnover has been sold out. It is even lower to send a long distance to the factory. Heilongjiang is a large complex, Liaoning mainstream factory price fell 80 yuan to 1860-1920 yuan.

In a comprehensive way, the production rate of the urea industry has been restored to a more normal situation, the downstream agricultural demand is not well reflected and the export is basically hopeless; however, the industrial production has recovered (the industrial complex mast plant started up to about 63.51%). In April, the agricultural demand in various regions will be reflected in succession, so the urea in the short term is expected to be urea.  Price weakness is the main factor. Urea price is expected to drop before mid April. In addition, the relevant departments will levy an environmental tax in April. In the early May, the value-added tax of agricultural products and other goods decreased from 11% to 10%. The specific impact remains to be seen. Next, we will focus on the change of urea industry operation rate, coal price trend, environmental protection development and policy factors.