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SunSirs: Melamine Market Was Strong Due to Tight Supply
April 22 2021 14:38:51SunSirs(John)

Price trend

The melamine market has been operating stably recently. According to the monitoring sample data of SunSirs, as of April 21, the average price of melamine companies quoted was 10,500 RMB/ton, which was a 4.48% increase compared with last Thursday (April 14) and an increase of 30.71% compared with March 21, and an increase of 105.88% compared with the same period last year.

Analysis review

Recently, the price of upstream urea rose, the cost side support rose, the demand side export was good, the domestic trade performance was general, the purchase was mainly just needed, melamine enterprises received more orders in advance, the spot supply was tight, and the focus of melamine market negotiation was high and firm.

Urea upstream, the urea market in Shandong increased on April 21. In terms of demand: agricultural demand was mostly sporadic procurement; downstream compound fertilizer and rubber sheet plants increased slightly, and most of them follow the market. On the supply side: At present, the operating rate of urea enterprises is about 70%, which is down, and the daily output is about 150,000 tons. The urea enterprise equipment was overhauled, and the supply side was tightened.

According to the price monitoring of SunSirs, on April 20, 2021, in the list of commodity prices, there were 25 kinds of commodities in the chemical industry sector that rose on a month on month basis, of which 2 kinds of commodities rose by more than 5%, accounting for 2.2% of the number of commodities monitored in the sector; the top 3 commodities that rose were ox (5.36%), maleic anhydride (5.09%) and cyclohexanone (4.23%).There were 10 kinds of commodities that have dropped from the previous month. The top 3 products of the decline were TDI (-3.06%), formic acid (-2.63%), and epoxy resin (-0.82%). The average daily increase and decrease was 0.3%.

Market outlook

Melamine analysts of SunSirs believe that the current cost has some support in the face of melamine price, coupled with the tight spot supply, and the downstream just needs to follow up. It is expected that the melamine market will be strong in the short term, and the trend of the market needs more attention.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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