尿素日报 | 2025-06-18 情绪向好，尿素延续上涨 市场分析 价格与基差：2025-06-17，尿素主力收盘1774元/吨（+51）；河南小颗粒出厂价报价：1790 元/吨（0）；山东地区小 颗粒报价：1810元/吨（+50）；江苏地区小颗粒报价：1830元/吨（+50）；小块无烟煤750元/吨（-50），山东基差： 36元/吨（-1）；河南基差：16元/吨（-11）；江苏基差：56元/吨（-1）；尿素生产利润280元/吨（+85），出口利润569 元/吨（-50）。 供应端：截至2025-06-17，企业产能利用率87.80%（0.08%）。样本企业总库存量为117.71 万吨（+14.17），港口样 本库存量为24.50 万吨（+4.00）。 需求端：截至2025-06-17，复合肥产能利用率33.81%（-3.32%）；三聚氰胺产能利用率为63.77%（-0.54%）；尿素企 业预收订单天数5.71日（+0.24）。 尿素盘面市场走势延续，情绪向好，价格持续上涨。以色列继续袭击伊朗并导致军事冲突升级。当前正值传统农 需旺季，全国大部分地区水稻、玉米等作物的追肥旺季，多数企业新单成交尚可，尿素企业 ...

当前正值传统农需旺季，全国大部分地区水稻、玉米等作 物的追肥旺季，多数企业新单成交尚可，尿素企业订单天数 小幅增加。与此同时，下游工业需求减弱，复合肥、三聚氰 胺等行业开工率环比走低。尿素产量持续处于高位，目未来 检修计划较少，供应端压力较大，市场呈现供大于求格局， 导致厂内库存处于高位。在出口方面，尿素通过法检后有序 发往港口，港口库存因此呈现小幅增加趋势。 短期来看，市场情绪预计仍受以色列伊朗事件影响，尿素 报价继续走高，建议谨慎对待，关注尿素出口情况。 华泰期货 化工组 热点解读:尿素上涨点评 ◆ 2025年06月17日 15:00 今日尿素期货盘面大幅上涨，其中主力合约UR2509收盘 价涨幅3.99%。 尿素盘面延续昨日的市场走势，市场情绪向好，价格持续 上涨。以色列继续袭击伊朗并导致军事冲突升级,今日已宣 布打死伊朗最高军事指挥官，同时伊朗继续对以色列进行大 规模导弹打击,国际油气价格震荡偏强运行,持续从成本端 带动国际市场尿素价格偏强运行，国内多数尿素企业报价有 不同程度的上调。 风险提示: 地缘政治事件、尿素出口情况、下游需求情况 安泰期货化工组 梁宗泰 F3056198 Z0015616 - ...

证券研究报告 | 行业点评 中印大合同签订，钾肥价格重心上移 事件描述 据中国无机盐协会消息，2025 年 6 月 12 日，中国钾肥进口谈判小组（中化、 中农、中海化学）与食安供应链有限公司（迪拜）就 2025 年钾肥年度进口合 同价格达成一致，合同价格为 346 美元/吨 CFR。此前在 2025 年 6 月 5 日， 印度钾肥进口大合同价格确定为 349 美元/吨，该价格由俄罗斯钾肥公司 （BPC）与印度化肥进口商 IPL 达成，今年计划发货 65 万吨。 事件点评 中印 25 年钾肥大合同价格涨幅超过 25%，中国仍是全球钾肥"价格洼地"。 据中国无机盐协会消息，2025 年 6 月 12 日，中国钾肥进口谈判小组（中化、 中农、中海化学）与食安供应链有限公司（迪拜）就 2025 年钾肥年度进口合 同价格达成一致，合同价格为 346 美元/吨 CFR，较去年大合同增长 73 美元 /吨，同比上涨 26.7%。此前在 2025 年 6 月 5 日，印度钾肥大合同价格为 349 美元/吨，较去年同比上涨 25%，该价格由俄罗斯钾肥公司（BPC）与印度化 肥进口商 IPL 达成，今年计划发货 65 万吨。据 ...

Group 1 - The core point of the article is that the main contract for urea on the Zhengzhou Commodity Exchange has increased by over 2%, currently priced at 1742 yuan per ton [1]

2025 年 06 月 16 日 尿素：短期或有反弹，日内波动关注现货成交 | | 杨鈜汉 | 投资咨询从业资格号：Z0021541 | | yanghonghan025588@gtjas.com | | | --- | --- | --- | --- | --- | --- | | 【基本面跟踪】 | | | | | | | 尿素基本面数据 | | | | | | | 项 目 | | 项目名称 | 昨日数据 | 前日数据 | 变动幅度 | | 期货市场 | 尿素主力 （09合约） | 收盘价 （元/吨） | 1,661 | 1,646 | 1 5 | | | | 结算价 （元/吨） | 1,665 | 1,654 | 1 1 | | | | 成交量 （手） | 263,369 | 232,160 | 31209 | | | | 持仓量 （手） | 284,793 | 307,079 | -22286 | | | | 仓单数量 （吨） | 5,962 | 5,967 | - 5 | | | | 成交额 （万元） | 877,243 | 768,173 | 109071 | | | 差 | 山东地区基差 | 4 ...

Core Viewpoint - The company is actively promoting its biobased membrane slow-release fertilizer technology globally, emphasizing the importance of international collaboration and sharing in addressing global food security challenges [3][9]. Group 1: Internationalization Strategy - The company has adopted a "technology licensing + localized production + service output" model to expand its market presence in Europe and Southeast Asia [3]. - The establishment of the first overseas slow-release fertilizer factory in the Netherlands marks a significant step in the company's global promotion efforts [3]. - The company has formed strategic partnerships in Indonesia to further its market reach in Southeast Asia [3][4]. Group 2: Technological Innovation - The company has developed a robust innovation system through collaboration with academic institutions, resulting in significant advancements in slow-release fertilizer technology [6]. - It has achieved a leading position in the global market, with an annual production capacity exceeding 7 million tons and holding nearly half of the global patents related to slow-release fertilizers [5][6]. - The company has received multiple national science and technology awards, showcasing its commitment to innovation in the fertilizer industry [6][7]. Group 3: Market Expansion Plans - The company plans to implement a phased promotion strategy, initially focusing on nearby markets such as Southeast Asia and gradually expanding to other regions [8]. - It aims to build a global promotion network that integrates technology, promotion, and ecological considerations to enhance the adoption of slow-release fertilizer technology [8]. - The company intends to establish demonstration fields globally to provide comprehensive support to local partners and farmers [8]. Group 4: Commitment to Global Cooperation - The company emphasizes the need for international cooperation to tackle global food security challenges and aims to leverage its technological innovations to foster collaboration across the agricultural sector [9]. - It seeks to work closely with international organizations to provide training and support for agricultural professionals worldwide [9].

"十年科技路，华鹤公司相继完成了空压机组电子超速保护探头回路故障报警、可控移热变换炉等百余 项创新，运行周期从84天到269天，30万吨合成氨、52万吨大颗粒尿素装置氨综合能耗从1900千克标准 煤/吨降至1462千克标准煤/吨，尿素综合能耗降至134千克标准煤/吨，稳居行业前列。"近日，中国海油 化学华鹤公司党委书记、总经理贺广彦在华鹤公司投产十周年大会上介绍道。 镍转化炉巧除氧 2020年，一群平均年龄不足30岁的青年员工对着如鸡蛋般大的气相色谱镍转化炉发愁。分析化验部分析 管理经理魏金刚拍着桌子说："就这点氧气还能难倒我们吗!" 分析化验部的FX-A-117气相色谱仪承担着华鹤公司"3052"装置微量二氧化碳和一氧化碳的分析任务。 由于样品气中存在一定量的氧气，这会对镍转化炉中催化剂造成影响，使镍触媒中毒，失去活性，导致 分析结果出现误差。 一群青年员工坐在电脑前，笔记本上满是色谱图和实验参数。最终，他们创新性地使用双阀控制气体进 样量，增设铜管进行气体平衡及放空组件，重构六通阀连接管线，使样品中二氧化碳气体进入镍转化 炉，空气中的其他组分进入铜管后放空，进而排除氧气对镍触煤的伤害，实现脱氧的目的。该创 ...

Core Viewpoint - The market is currently experiencing a range-bound fluctuation, with the Shanghai Composite Index showing signs of a potential rebound after a recent pullback, supported by upcoming significant events and financial policies [1][2][3]. Market Trends - The Shanghai Composite Index has been in a rebound cycle for 46 trading days since hitting a low on April 7, indicating a potential for further upward movement [2][5]. - Historical patterns suggest that the index may follow a "pullback before breakthrough" strategy, as seen in previous instances [2][4]. Upcoming Events - The Lujiazui Forum on June 18-19 is expected to be a key event where central financial authorities will announce several financial policies, potentially providing upward momentum for the market [2][3]. - A global central bank week from June 17-19 will see major banks, including the Federal Reserve, announce interest rate decisions, which could impact market sentiment [4]. Sector Focus - The ongoing conflict in the Middle East, particularly between Israel and Iran, is anticipated to create short-term investment opportunities in sectors such as oil and gas equipment, transportation, and precious metals [6][8]. - Historical context from the Russia-Ukraine conflict suggests that supply chain concerns may arise, particularly in key industrial products, leading to potential price increases in related sectors [6][7]. Market Sentiment - Despite a recent cooling in market sentiment, the overall rebound cycle for the market remains intact, with a focus on sector-specific opportunities rather than broad index movements [8].

Investment Rating - The report suggests a cautious outlook on the chemical industry, with a focus on price increases for specific products and potential investment opportunities in companies like Kangkuan and nitrated cotton [1][2]. Core Insights - The chemical market is experiencing price increases, with notable price adjustments for products such as chlorantraniliprole and Bacillus thuringiensis, indicating a favorable pricing environment [1][2]. - Geopolitical tensions, particularly the Iran-Israel conflict, have led to increased oil prices, which in turn affects the chemical sector positively by raising the prices of related products like methanol and strontium carbonate [2][3]. - The report highlights significant events impacting the industry, including the launch of a new production facility by China Pingmei Shenma Group, which could alter the competitive landscape in the nylon industry [3][4]. Summary by Sections Market Overview - The basic chemical index fell by 0.01%, outperforming the CSI 300 index by 0.24% this week, with strong performances from specific stocks [1][11]. - Brent crude oil averaged $69.45 per barrel, up 6.22% week-on-week, while WTI crude oil averaged $67.89 per barrel, up 7.17% [11]. Key Events - The report notes the successful negotiation of a major potassium fertilizer contract at $346 per ton, indicating a positive outlook for the potassium fertilizer market [1]. - The establishment of a new 100,000 tons/year production facility by China Pingmei Shenma Group marks a significant development in the nylon supply chain [3]. Price Movements - The report tracks price changes for various chemical products, with significant increases noted in sectors such as textile chemical products and compound fertilizers [11][12]. - The report indicates that the prices of methanol and strontium carbonate are gaining attention due to their correlation with rising oil prices [2][11]. Industry Trends - The report emphasizes the ongoing recovery in domestic and international demand for chemicals, particularly in the tire and rubber sectors, which are seeing a resurgence in production rates [27][28]. - The AI industry is also highlighted, with significant investments being made, indicating a broader trend of technological integration within the chemical sector [4].

Core Viewpoint - The event in Zhangjiagang aims to enhance collaboration between universities and enterprises, fostering a new blueprint for talent integration and industrial development [1][3]. Group 1: Event Overview - The Jiangsu Zhangjiagang Government-Enterprise Alliance Cooperation Conference gathered 137 universities and nearly 200 local enterprises to discuss talent integration [1]. - The event is part of a six-year initiative to strengthen partnerships with over 200 universities, attracting more than 100,000 graduates to the city [4]. Group 2: Talent Development Initiatives - Zhangjiagang is committed to building a "talent-friendly" and "employment-friendly" city, implementing a "1+1+N" talent policy system and launching a talent fund with a total scale of 1.5 billion yuan [3][4]. - The city has introduced three major talent plans focusing on higher education graduates, artificial intelligence, and semiconductor industries [3]. Group 3: Success Stories - The city has seen a significant increase in talent, with a total of over 460,000 individuals, including 45,000 high-level talents and 132,800 skilled workers [4]. - A success story highlighted includes a graduate who transitioned from research to production, winning national accolades and advancing to a mid-level management position [4]. Group 4: Regional Collaboration - The event also featured a cross-regional cooperation agreement between employment service centers from Yunnan, Hubei, and Henan provinces and Zhangjiagang's human resources department to expand talent recruitment efforts [5].