China urea supply to see ample in Nov-Dec despite intensive unit maintenance

China's urea monthly output is forecast at around 6.5 million tonnes in November-December, up about 7.97%-8.33% year-on-year, even as natural gas-based plants begin seasonal maintenance. Daily natural gas-based urea production is expected to fall to 34,000-39,000 tonnes in November, while overall daily output is seen at 210,000-225,000 tonnes.

Domestic urea supply will remain relatively abundant. Considering short-term unit shutdowns, the monthly urea output is expected to be around 6.5 million tonnes in November and December, an increase of 7.97%-8.33% year-on-year. China's Urea Monthly Output, 2024-2026E (Unit: '000 tonnes) Source: OilChem Despite the overall high output, seasonal maintenance will significantly impact