Today, the domestic urea spot market remains firm and steady.

Today, the domestic urea spot market remains steady. Most production companies have basically completed pre-orders for the Spring Festival holiday, with only a few companies making small adjustments and additional orders based on market conditions. Due to market rumors, futures prices surged significantly today, prompting some spot transactions to follow suit and a few companies to slightly raise their quotes. However, downstream purchasing activity has noticeably slowed, and market sentiment is cautious, with the urea market gradually entering a semi-closed state. Overall, most companies are maintaining good order intake and steady quotes, and it is expected that the market will remain relatively strong and volatile before the holiday in the short term. Moving forward, attention should be paid to the follow-up of demand-side procurement, changes in export expectations, and the actual demand for spring stockpiling, as well as observing the marginal changes on both supply and demand sides. Generally, upstream factory quotes are fluctuating with market sentiment, downstream procurement is improving but still cautious, and as prices rise to relatively high levels, downstream acceptance of high-priced sources decreases. (Fei Duoduo)