Core Viewpoint - Urea futures have shown a slight upward trend, with the main contract reaching a peak of 1663.00 yuan and closing at 1660.00 yuan, reflecting a 1.65% increase [1] Group 1: Market Analysis - According to Everbright Futures, the urea market is expected to continue a low-level wide fluctuation trend due to high supply levels and weak demand, with daily production at 201,100 tons, a slight decrease from the previous day [2] - Zhonghui Futures indicates that the supply side pressure remains, with daily production reaching 202,500 tons, and anticipates that production will remain high before the upcoming maintenance of gas-based enterprises [3] - Guotou Anxin Futures notes that while there has been a slight decrease in prices, the overall supply-demand balance remains loose, predicting a return to a stagnant fluctuation after price corrections [4] Group 2: Demand and Supply Dynamics - The demand side is characterized by mixed signals, with limited agricultural demand ahead of the new year, while exports of urea and other fertilizers have been relatively strong [3] - The market shows a divergence in performance across regions, with some areas experiencing higher sales rates, while overall inventory levels remain high compared to previous years [2] - The ongoing "export quota system" and "price stabilization measures" are influencing the market dynamics, leading to a situation where urea prices have both upper and lower limits [3]
期货市场利好驱动预期较有限 尿素上有顶下有底
Jin Tou Wang·2025-11-26 05:55