On November 11, 2025, from the weekend until now, due to the dual positive news of urea exports and a new round of urea bidding in India, the domestic urea spot market has risen significantly, and the mainstream regional urea factory prices have been greatly increased, with an increase of 10-50 yuan/ton. The market sentiment has significantly increased, trading has improved, dealers have entered the market to pick up goods, manufacturers have raised prices, and some have limited orders, indicating a strong willingness to raise prices.

The overall performance of the domestic urea market is showing a strong upward trend. With the implementation of export self-discipline quotas, futures have jumped short and opened high, suppliers have significantly increased their quotes, new orders have been well executed, and traders are the main buyers. Downstream reactions are relatively calm, and the pursuit of price increases is limited. The current export news is still fermenting, and we need to pay attention to the pace of reserve market entry and the degree of demand follow-up in the future.