Group 1: Report Overview - The report is the Urea Market Weekly Report from Ruida Futures Research Institute on February 13, 2026, with researcher Lin Jingyi [2] Group 2: Weekly Summary Market Review - The domestic urea market showed a narrow - range upward trend this week. As of Thursday, the mainstream ex - factory price of small and medium - sized urea particles in Shandong reached 1760 - 1800 yuan/ton, with the average price up 5 yuan/ton week - on - week. Despite being in the last order - receiving period before the Spring Festival, downstream replenishment was active, and factory prices gradually increased [7] Market Outlook - Some previously shut - down plants resumed production, increasing domestic urea output. Next week, no plant is planned to shut down, and one shut - down plant may resume. Considering possible short - term equipment failures, output is expected to remain stable. There is still some local agricultural demand, but most demand is on hold due to the Spring Festival. Compound fertilizer enterprises entered the production - reduction stage this week, with capacity utilization decreasing week - on - week. It is expected to remain low in the short term and resume after the eighth day of the first lunar month. Domestic urea enterprise inventories continued to decline this week, but may start to accumulate during the Spring Festival due to reduced long - distance logistics [7] Strategy Suggestion - During the long holiday, pay attention to the impact of external macro - situation, geopolitics, and temperature on post - festival agricultural demand [7] Group 3: Futures Market Price Movement - The price of the main contract of Zhengzhou urea futures fluctuated and closed up this week, with a weekly increase of 3.21% [10] Spread - As of February 13, the UR 5 - 9 spread was 41 [12] Position Analysis - No detailed information on the change of net long positions of the top 20 in urea futures is provided, only the name of the analysis item is mentioned [15] Warehouse Receipts - As of February 13, there were 10,382 warehouse receipts of Zhengzhou urea, a decrease of 478 from last week [20] Group 4: Spot Market Domestic Price - As of February 12, the mainstream price in Shandong was 1800 yuan/ton, up 20 yuan; in Jiangsu, it was 1810 yuan/ton, up 10 yuan [26] International Price - As of February 12, the FOB price of urea in China was 442.5 US dollars/ton, up 20 US dollars/ton from last week [30] Basis - As of February 12, the urea basis was - 43 yuan/ton, a decrease of 45 yuan/ton from last week [34] Group 5: Upstream Market Coal and Gas Prices - As of February 11, the market price of Qinhuangdao thermal coal with 5500 kcal was 680 yuan/ton, unchanged from last week. As of February 12, the closing price of NYMEX natural gas was 3.23 US dollars/million British thermal units, down 0.19 US dollars/million British thermal units from last week [37] Group 6: Industry Situation Production and Capacity Utilization - As of February 12, China's urea production was 1.4931 million tons, up 23,900 tons from the previous period, a week - on - week increase of 1.63%. The capacity utilization rate was 90.59%, up 1.45% from the previous period [40] Inventory - As of February 12, the sample inventory of Chinese urea ports was 166,000 tons, up 1000 tons week - on - week, a 0.61% increase. As of February 11, the total inventory of Chinese urea enterprises was 834,700 tons, down 83,800 tons from last week, a 9.12% decrease [43] Export - In December 2025, urea exports were 278,300 tons, a 53.75% decrease from the previous month [46] Group 7: Downstream Market Compound Fertilizer and Melamine - As of February 12, the capacity utilization rate of compound fertilizers was 36.19%, down 5.6 percentage points week - on - week. It is expected to remain low in the next period and resume after the eighth day of the first lunar month. The average weekly capacity utilization rate of Chinese melamine was 51.5%, down 7.3 percentage points from last week [49]

尿素产业日报 2025-10-09 国际尿素进口招标，但由于我国出口窗口期即将结束，且后期出口政策暂不明朗，因此此轮印标对国内尿 数据来源于第三方，观点仅供参考。市场有风险，投资需谨慎！ 素市场的影响仍需持续跟踪。刚需推进依旧不温不火，国内企业仍面临高库存压力。UR2601合约短线预计 研究员: 林静宜 期货从业资格号F03139610 期货投资咨询从业证书号Z0021558 在1600-1670区间波动。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑州尿素主力合约收 ...

瑞达期货研究院 「 2025.04.11」 尿素市场周报 研究员：林静宜 期货从业资格号F03139610 期货投资咨询证书号Z0021558 关 注 我 们 获 取 更 多 资 讯 业务咨询 添加客服 目录 1、周度要点小结 2、期现市场 3、产业链分析 「 周度要点小结」 3 「 期货市场情况」 跨期价差 行情回顾：本周国内尿素市场先跌后小幅反弹，截止本周四山东中小颗粒主流出厂1840-1900元/ 吨，均价环比下跌55元/吨。美国宣布对部分国家实行对等关税政策引发全球市场动荡，市场情绪 受挫。 行情展望：近期国内尿素部分装置停车检修复产，日产量小幅提升，下周暂无企业装置计划停车， 2-3家停车装置恢复生产，考虑到短时的企业故障发生，产量波动或有限。近期农业暂时处于零星 补仓；工业需求存在支撑，本周复合肥工厂开工下滑，市场情绪不稳定，各方操作积极性难恢复， 叠加夏季肥补仓有推迟预期，复合肥开工率或继续小幅下滑。本周国内尿素企业库存呈现增加， 清明节后市场情绪受挫，尿素价格下跌，下游补仓放缓，导致尿素流向减少，企业库存随之增加。 策略建议：美国加征关税引发全球经济增长担忧，从宏观层面和资金情绪上对尿素市场形 ...