Group 1 - The core viewpoint is that despite a significant decline in external crude oil and precious metal prices, the domestic urea market remains stable, primarily due to supply and demand dynamics [1] Group 2 - Supply and price limits are determining the upper price threshold for urea, with production exceeding 210,000 tons per day, a historical high, and government price controls set for March 2026 [4][2] Group 3 - Demand from compound fertilizer winter storage and agricultural needs is a key support factor for urea prices, with high operating rates in compound fertilizer production and increased agricultural procurement [5] Group 4 - Coal prices have stabilized, providing slight support to urea costs, which contributes to the maintenance of urea prices before the Spring Festival [6] Group 5 - Overall, despite a seasonal demand lull and rapid supply increase, the market is in a state of tight balance due to government reserves and agricultural procurement, limiting the potential for significant price declines [6]
尿素：春节前维持高位震荡格局
Qi Huo Ri Bao Wang·2026-02-04 13:42