尿素：印标超预期等因素带动期价上涨，需求仍疲软

Core Viewpoint - On August 5, urea futures prices experienced a significant increase driven by multiple factors, including unexpected pricing from India and rising domestic export price expectations [1] Group 1: Price Movements - Urea futures prices surged due to higher-than-expected Indian pricing, which boosted domestic export price expectations [1] - The spot market prices also increased, with most major companies seeing improved new order transactions after previous price reductions [1] Group 2: Market Dynamics - The cost side saw a complete halt in coal mining inspections, leading to a full stop in coking coal prices, which further pushed urea futures prices upward [1] - Despite the short-term support for prices, the overall supply-demand balance for urea remains loose, with actual demand being weak and limiting strong price movements [1] Group 3: Future Outlook - Future export volumes and the demand for replenishment from autumn compound fertilizer factories may support a temporary bottom in the market [1] - Some manufacturers are not under significant inventory pressure, allowing for flexible pricing strategies, but actual demand remains cautious, leading to narrow price fluctuation ranges [1] - The current urea market fundamentals have not changed significantly, and the industry is awaiting further developments regarding export news [1]