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Shanghai-based monitor Sci-Tech Commodity (Shengyishe) reported that the urea average spread on November 12 was 8.62 yuan per ton, calculated as M10 minus M20 (1756.75 minus 1748.13). The spread narrowed after previously widening, indicating urea gains were slowing.
A narrowing spread signals that the urea rally is losing momentum, a possible turning point that could ease Chinese fertilizer prices and nitrogen input costs for feed-grain producers.
finance.sina.com.cnNov 12, 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.
