下游开工尚可 尿素价格震荡上扬

Core Viewpoint - The recent urea market has shown an upward trend, with improved trading atmosphere and a slight price increase due to better demand conditions [1] Group 1: Market Price and Trends - As of January 27, the average price of medium-sized urea in China is 1763.10 yuan per ton, reflecting a week-on-week increase of 0.17% [1] - Urea companies are experiencing a decrease in inventory, currently at 820,000 tons, which is a 2.14% decline from the previous period [1] Group 2: Demand and Production - The operating rate of compound fertilizer enterprises has improved to 49.27%, up by 6.11 percentage points week-on-week, indicating a recovery in production [1] - Some fertilizer companies are preparing for post-holiday shipments, with production in Hubei and Henan provinces gradually resuming [1] Group 3: Future Outlook - In early February, production is expected to increase as maintenance facilities in Chongqing and Inner Mongolia come back online, potentially raising daily output to over 210,000 tons [1] - As the Spring Festival approaches, it is anticipated that the operating rates of downstream compound fertilizer and industrial enterprises will gradually decline [1] - Urea companies currently have good pre-receipt orders, leading to limited downward price pressure, with expectations of narrow price adjustments before stabilizing for the holiday period [1]