尿素数据日报-20260116

Report Industry Investment Rating - Not provided Core Viewpoint - The current domestic supply-demand situation of urea remains loose, and the recent market still has a downward trend. Although urea exports are advancing, the weak domestic demand situation has not been reversed. The overall market is expected to fluctuate, with macro and cost factors being positive and weak domestic demand being negative [1] Summary by Relevant Catalogs Cost - The price of pulverized coal decreased by 10.00 to 510.00, while the price of natural gas remained unchanged at 3740.00. The cost of anthracite small pieces was 920.00, with no change [1] Price - The prices of urea in Shandong, Henan, and Anhui decreased, while the prices in Shanxi and the FOB prices in China and the Middle East remained unchanged. The CFR prices in Southeast Asia and Brazil also remained stable [1] Supply - The daily output of urea decreased by 770.00 to 199810.00, and the overall operating rate decreased by 0.33 to 84.86. The operating rates of coal and gas-based urea remained unchanged at 93.00 and 48.06 respectively [1] Demand - The operating rate of industrial compound fertilizers gradually increased this week, but agricultural demand decreased significantly. The operating rates of compound fertilizers, melamine, and formaldehyde remained unchanged at 37.17, 54.35, and 35.25 respectively [1] Inventory - Factory inventory remained unchanged at 102.22, port inventory decreased by 13.50 to 0.00, and downstream sample inventory remained unchanged at 15330.00 [1] Futures - The futures settlement price decreased by 9.00 to 1796.00, the trading volume decreased by 62191.00 to 6144515.00, and the open interest decreased by 3460.00 to 250303.00. The warehouse receipt volume remained unchanged at 13355.00 [1]