CNOOC Petrochemical (03983) rose more than 6% in the afternoon. As of press release, it was up 5.7% to HK$2.41, with a turnover of HK$13.252 million.
The Zhitong Finance App learned that CNOOC Petrochemical (03983) rose more than 6% in the afternoon. As of press release, it had risen 5.7% to HK$2.41, with a turnover of HK$13.252 million.
According to the news, spring cultivation and preparation for cultivation have been carried out one after another. Many urea manufacturers, such as Hualu Hengsheng, Sichuan Meifeng, Liuguo Chemical, and Lutianhua, have raised the factory price of urea products by about 50 yuan to 60 yuan/ton. The price increase of urea prices has been nearly 8% over the past month.
Furthermore, CF Industries, a major European fertilizer producer, said, “In the next four years, confirmed new capacity construction will not be enough to keep up with the historical growth rate of nitrogen demand of about 1.5% per year in traditional applications. In this tight supply and demand situation, due to restrictions on the availability and cost of natural gas, existing ammonia production capacity in several important regions is still likely to stagnate permanently”. CF Industries believes “China will restrict exports in the first half of the year to stabilize supply and urea prices in its domestic market.”