On February 9, Hualu Hengsheng Chemical Co., Ltd. announced its latest ex-factory price for medium-sized urea at 1,785 yuan per ton, marking an increase of 10 yuan per ton, with actual transaction prices subject to negotiation. According to PriceSeek's analysis of urea, the long-short score stands at 1.5. The 10 yuan per ton increase in Hualu Hengsheng's ex-factory urea price to 1,785 yuan per ton indicates tightening supply or strengthening demand in the spot market, directly benefiting spot prices. Considering the settlement price of the urea futures main contract (such as the 2605 contract, which settled at 1,776 yuan per ton on February 6), the rise in spot prices may drive a rebound in futures prices, as futures typically follow spot market trends. Particularly, the current spot price being higher than the futures settlement price reflects a growing bullish sentiment in the market, supporting an upward trend in futures prices.
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