On April 11, 2026, the overall domestic spot price of urea remained stable, with some regions experiencing a decline in ex factory quotes. At present, the factory prices of most factories remain within the guidance price limit, and the factory prices of small and medium-sized urea particles in mainstream areas are between 1800-1870 yuan/ton.

The ceasefire agreement reached between the United States and Iran remains uncertain, with international oil prices fluctuating sharply and the prospects for the opening and blockade of the Strait of Hormuz uncertain, leading to significant fluctuations in global prices of energy, chemical, and other commodities.

In terms of supply, the current daily production of urea remains above 210000 tons, with an operating rate of around 90%. The inventory level of the enterprise is low, and the manufacturer's quotation remains firm. The number of enterprises scheduled for maintenance and shutdown due to malfunctions has increased this month, and production may experience a slight decline,

In terms of demand, the peak season for spring plowing fertilizer has ended, and agricultural demand has significantly weakened. The pace of downstream procurement has slowed down, and there is still some demand in some southern regions. The operating rate of compound fertilizer enterprises has increased to a high level of 50%, with a focus on producing high nitrogen fertilizers. As a result, there has been an increase in the purchase of urea, while the demand for other industrial materials such as boards has remained relatively stable, with rigid procurement being the main focus.