On October 18, 2025, the overall domestic urea spot market remained stable, with slight fluctuations in some regions. The price adjustment range is 10-20 yuan/ton.

Some companies' pending orders are still acceptable, with stable and slightly increased quotes. In addition, the transaction situation in some regions has weakened, and manufacturers have lowered prices to attract orders. The overall willingness of downstream customers to receive goods is not high, and they mainly adopt a wait-and-see approach.

The current contradiction between supply and demand of urea is prominent, and the market trading atmosphere is flat. Downstream companies adopt a strategy of following up on demand and buying at low prices. The daily production of urea in China remains at around 190000 tons, with an operating rate of around 82%.

The demand side performance continues to be sluggish, and downstream compound fertilizer enterprises and traders have obvious resistance to high priced sources. There is a lack of follow-up on new orders, and procurement is mainly focused on rigid demand and small order replenishment. The market trading atmosphere is light.

Maintain a short-term volatile outlook, and pay attention to the macro sentiment of the futures market sector and the release of reserve demand in the future.