On January 9, Hualu Hengsheng Chemical Co., Ltd. announced the latest ex-factory price for medium-sized urea at 1,745 yuan per ton, an increase of 10 yuan per ton, with actual transaction prices subject to negotiation. PriceSeek analysis of urea: Bullish-bearish score: 1. Hualu Hengsheng's urea ex-factory price rose by 10 yuan per ton to 1,745 yuan per ton, reflecting tightening supply and demand in the spot market and stronger price support from producers, which is favorable for spot prices. Combined with futures data, the main urea futures contract 2605 closed at 1,777 yuan per ton (settlement price 1,779 yuan per ton). Although it experienced a slight decline of 2 yuan per ton on the day, the rise in spot prices may boost sentiment in the futures market and support a future price rebound. The overall score is moderately bullish, as the price adjustment is moderate, and attention should be paid to the actual transaction negotiations.