# 7.26 Urea Daily Review: futures price closed daily limit at the end of the day, and the spot rose after the stalemate

> China's domestic urea futures (UR2309) closed at the daily limit of 2,335 yuan/t on July 26, up 8%, while the small-particle spot index rose 43.18 points to 2,451.05. Spot prices rose 10-150 yuan/t across regions despite weak agricultural and industrial demand. Daily output was near 170,000 tonnes, with possible Shanxi and Inner Mongolia maintenance later.

- Date: 2023-07-27 · published 2023-07-27T12:00:00.000Z
- Category: market · region China · magnitude medium
- Page: https://feedsoft.ai/events/4758-7-26-urea-daily-review-futures-price-closed-daily-limit-at-the-end-of-the-day
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Futures-led speculation lifted Chinese spot prices, and India's new import tender and rising global prices raise export expectations. Possible supply tightening from maintenance supports prices, though weak downstream demand limits gains.

## Read by commodity

- UREA: bullish ▲
- USDCNY: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2023-07-28 | 1 | +24.1% | 8.8 | China urea futures hit the 8% daily limit on July 26 and spot rose 10-150 yuan/t, a direct sentiment and price driver just before the 24% move ending July 28. |
| UREA | 2023-07-27 | 1 | +24.1% | 9.1 | China urea futures hit the daily limit up 8% on July 26 with spot rising, a direct price-driving signal transmitted to the global market. |
| UREA | 2023-07-28 | 5 | +31.8% | 4.6 | China urea futures hit the daily limit up 8% and spot rose, adding to bullish sentiment and pulling export-linked price expectations higher. |
| UREA | 2023-07-27 | 5 | +31.8% | 5.1 | China's urea futures closed limit-up on July 26 and spot prices rose, adding to the sentiment-driven global rally despite weak domestic demand. |

## Sources

- fdd-global.com: https://www.fdd-global.com/article-hot-news/7-26-urea-daily-review-futures-price-closed-daily-limit-at-the-end-of-the-day-and-the-spot-rose-after-the-stalemate.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.