# Industry inventories fall month-on-month as urea futures trade mostly firm and range-bound

> Urea futures contract 01 traded in a narrow range, with spot prices in Shandong around 1,720-1,760 yuan/t. Industry inventories fell month-on-month and weekly operating rates slipped to 89.13%, with coal-based capacity at 94.61% and gas-based at 68.52%. Downstream demand remains weak and buying is mostly for essential needs.

- Date: 2026-11-13 · published 2026-11-13T06:11:09.792Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/97235-industry-inventories-fall-month-on-month-as-urea-futures-trade-mostly-firm-and
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Lower operating rates and falling inventories ease supply pressure on urea, which supports prices. Soft downstream demand limits the upside, so prices are likely to stay range-bound in the near term.

## Read by commodity

- UREA: neutral

## Sources

- finance.sina.com.cn: https://finance.sina.com.cn/money/future/fmnews/2026-11-13/doc-iniypzqm3762547.shtml

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