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Urea futures on the Zhengzhou exchange are consolidating in a narrow range as spot demand is limited and traders are cautious. Shandong small-grain urea trades around 1740-1770 yuan per tonne, and warehouse receipts rose to 662.
Plant utilization is about 90%, with some plants in Daqing and Tashi shut for maintenance.
Expectations of Indian urea tenders are supporting Chinese prices, but weak domestic demand limits upside, so fertilizer costs for feed grain production are unlikely to move sharply in the near term.
finance.sina.com.cnNov 3, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
