尿素：供需宽松弱势下行，短期维持震荡

Core Viewpoint - The domestic urea market is experiencing a downward trend due to a cooling of export speculation and a return to supply-demand fundamentals, leading to price adjustments by manufacturers [1] Group 1: Market Conditions - On August 25, the domestic urea market showed weakness, with manufacturers lowering prices amid a lack of new orders and limited trading activity [1] - The market sentiment remains cautious due to expectations of strong supply and weak demand, with prices likely to remain under pressure unless there are significant policy changes [1] Group 2: Demand and Supply Dynamics - Current market conditions indicate that while there is still support from export orders, macroeconomic sentiment, and cost factors, actual domestic demand has not shown significant growth [1] - The price fluctuation space is limited in the short term unless there is a substantial release of domestic demand [1] Group 3: Future Outlook - The market is expected to maintain a state of fluctuation in the short term, with attention needed on futures market sentiment and changes in export policies [1]