On December 30th, Hua Lu Hengsheng Chemical Co., Ltd.'s latest ex-factory price for granular urea was set at 1695 yuan/ton, a decrease of 20 yuan/ton, with actual transaction negotiations taking place. PriceSeek analyzed the urea market, giving it a rating of -1. The article indicates that the ex-factory price of Hua Lu Hengsheng's granular urea has been reduced from 1715 yuan/ton to 1695 yuan/ton, with an approximate decline of 1.17%, indicating that there is ample supply in the spot market or weak demand, which might suppress the enthusiasm of traders in buying. Considering the futures market situation, with the main contract 2605 (the closing price on December 29th was 1735 yuan/ton, the settlement price was 1735 yuan/ton, and there was no change) approaching delivery, the drop in spot prices might lower the benchmark price for futures, leading to a bearish sentiment in the futures market and a reduction in holdings. This may amplify short-term downward risks. The rating of -1.0 reflects a general negative impact, though not reaching a major level, but it needs to be vigilant about the potential effect of price transmission.