On January 29, Hualu Hengsheng Chemical Co., Ltd. announced the latest ex-factory price for medium-sized granular urea at 1,765 yuan per ton, an increase of 20 yuan per ton, with actual transaction prices subject to negotiation. PriceSeek's analysis of urea indicates a bullish-bearish score of +1.5. The report highlights that Hualu Hengsheng's ex-factory price for medium-sized granular urea has been raised by 20 yuan per ton to 1,765 yuan per ton, suggesting tightening spot market supply or increased demand, which is favorable for urea spot prices. Combined with urea futures market data (e.g., the closing price of the 2605 contract on January 28, 2026, was 1,799 yuan per ton, up 26 points, with high trading volume and increased open interest), this spot price increase may reinforce market bullish expectations and drive up futures prices. Considering the combined impact of spot and futures markets, a score of +1.5 (significantly bullish) is assigned.