On January 5, Shandong Rising Chemical Co., Ltd. announced the latest ex-factory price of urea at 1,700 yuan/ton, representing an increase of 10 yuan/ton. Actual transaction prices are subject to negotiation. PriceSeek's analysis of urea indicates a bullish-bearish score of 1. The 10 yuan/ton increase in urea ex-factory prices to 1,700 yuan/ton suggests a tightening market supply or a recovery in demand, which directly benefits spot prices. In conjunction with futures data, the settlement price of urea futures contracts (such as the 2605 main contract) has recently fluctuated within a narrow range of 1,740–1,750 yuan/ton, with limited price movements (e.g., a decrease of 6 yuan). Open interest and trading volume indicate stable market liquidity. This signal of rising spot prices may strengthen market bullish expectations and drive futures prices upward, though the increase is moderate, representing a general positive factor.