尿素数据日报-20251225

Group 1: Investment Rating - No investment rating provided in the report Group 2: Core View - The report states that the short - term domestic demand for urea is weak. Although exports are progressing, the domestic supply - demand situation remains loose, and the market is expected to decline in the near term. It suggests a neutral view of the market with both macro and cost factors being positive, while domestic demand being negative [1] Group 3: Summary by Directory Cost - Coking coal price on 2025/12/24 was 490.00, up 5.00 from the previous day;无烟小块 remained at 940.00; natural gas remained at 3560.00 [1] Price - Domestic prices in different regions showed mixed trends. For example, prices in Henan, Anhui, Shandong, and Shanxi increased, while that in Hebei decreased. International prices such as China FOB, Middle East FOB, Southeast Asia CFR, and Brazil CFR remained unchanged [1] Inventory - Factory inventory, port inventory, and downstream sample inventory all remained unchanged on 2025/12/24 compared to the previous day [1] Supply - Daily production, overall开工率, coal - based开工率, and gas - based开工率 all remained unchanged. The number of pending orders and复合肥开工 also remained stable [1] Demand -开工率 of melamine, formaldehyde, and other downstream products remained unchanged [1] Profit - Profits from fixed - bed, water - coal slurry, and natural gas remained unchanged, while the price of liquid ammonia decreased by 10.00 [1] Related Products - Prices of related products such as compound fertilizer remained unchanged, while prices of melamine, methanol, etc. decreased [1] Futures - The settlement price increased by 19.00, the basis increased by 16.00, the trading volume decreased by 11422.00, the open interest increased by 8319.00, and the number of warehouse receipts decreased by 100.00 [1]