Thiourea Price Trend and Forecast

Thiourea 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 the First Half of 2024

Asia

In Asia, the thiourea market experienced continuous oscillations, particularly towards the lower end of the pricing spectrum, much like the urea market in the first half of the year 2024. The stability in urea prices due to consistent domestic supply and government subsidies in countries like India contributed to a similar trend in thiourea prices.
 

Thiourea Price Chart

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Despite some local challenges, such as reduced urea consumption in India due to the rise in other alternatives in the markets and weak demand in China, the overall market for thiourea remained steady. Additionally, the subdued buying interest and lack of significant international inquiries maintained a low-price trajectory for thiourea, in line with the static nature of urea prices.

Europe

In Europe, the thiourea market reflected the mixed performance of its feedstock urea sector. While European urea prices faced stagnation due to fluctuating demand and adverse weather conditions impacting agricultural activities, thiourea prices also showed stability. The availability of carried-over stocks of urea and increased domestic production provided a buffer against price volatility. The stability in urea prices, supported by sufficient stocks and steady supply chain operations, influenced a similar trend in thiourea prices, preventing significant price swings despite regional disruptions and geopolitical conflicts.

North America

In North America, thiourea prices aligned with the stable to slightly increasing cost of production, which in turn was based on positive prevailing sentiments of the urea market. The urea market's stability, with modest price changes and ample supply, translated into a similar pattern for thiourea. Further, the resilience of the fertilizer market, despite seasonal variations and logistical disruptions, supported thiourea prices, maintaining a consistent market environment.

Analyst Insight

According to Procurement Resource, the price of Thiourea is expected to sustain its upside momentum in the future quarters as well as the prevailing market dynamics suggest an optimistic trend.
 

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.

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.