Thiourea Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Thiourea in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Thiourea Price Trend for First Half of 2023

Asia

In the first quarter of 2023, the prices of thiourea inclined initially and then declined. The growth of the thiourea prices was supported by the rise in the cost of raw materials and demand from the downstream industries.

However, as the quarter progressed, the excess of supply and weak momentum of the Chinese market due to the poor trading sentiments of the region proved to be a struggle for the thiourea prices. The prices declined consistently in the second quarter, too, along with the persisting challenges; the cost of coal and feedstock also fell significantly, pushing the price trend of thiourea in the negative zone.

Thiourea Price Chart

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Europe

In European countries, the fertilizers sector and feedstock materials of thiourea witnessed a steep slump due to uncertainties in the cost of coal and natural gas. This led to the depletion of the costs of production, negatively affecting the price trend of thiourea.

The downfall of the fertilizers and other downstream industries led to a rise in the level of inventories, which was also affected by the poor purchasing potential of consumers in the first and second quarters of 2023. Further, the ongoing Russia-Ukraine crises caused the inflation rates to rise significantly, hurting the overall sentiments of thiourea prices.

North America

The cost of raw materials in the region suffered from the poor growth of the economy, hampering the prices of thiourea. In the first quarter, the natural gas prices fell to alarming levels while the rates of production increased by several folds. This imbalance caused the problem of excess influx of the product in the region.

These challenges persisted in the second quarter, too, which were accelerated by the extreme temperature conditions adversely affecting the export rates through water channels. In addition to this, the economic crisis caused by the failure of two major banks also added to the existing challenging conditions.

Analyst Insight

According to Procurement Resource, the price trend of Thiourea is estimated to follow an oscillating path as the market sentiments of the downstream fertilizers sector seem to be improving.

Procurement Resource provides latest prices of Thiourea. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.