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SunSirs: Melamine Market Continued to Rise and Price Reached a New High
May 08 2021 14:30:09SunSirs(John)

Price trend

The market for melamine rose sharply in April. Since May, the market has continued to rise and hit a new high. According to the monitoring sample data of SunSirs, as of May 7, the average price of melamine enterprises was 14,900 RMB/ton, an increase of 2.76% compared with the previous trading day, and an increase of 55.48% compared with April 7, and up 106.94% in three months.

The market supply and demand pattern has not changed much, and the market is running at a high level

Since May 1st, market prices have been trending upward, and the export market has performed well. Domestic trade is dominated by rigid demand. Supported by previously expected orders, companies have no sales and inventory pressures. The tight spot supply has continued, and corporate quotations have continued to increase.

Urea upstream, the urea market in Shandong was temporarily stable on May 7. In terms of demand: agricultural demand is mostly sporadic procurement; downstream compound fertilizer and rubber sheet plants have 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, in the April 2021 commodity price list, there were 51 products in the chemical sector that rose month-on-month, of which 30 products rose by more than 5%, accounting for 32.6% of the number of monitored products in this sector; The top 3 commodities were melamine (34.28%), acetic anhydride (31.91%), and acetic acid (29.83%). A total of 31 products fell month-on-month, and 15 products fell more than 5%, accounting for 16.3% of the number of monitored products in this sector; the top 3 products that fell were formic acid (-18.44%) and aniline (-17.86%) , N-Propanol (-16.17%). The average increase and decrease this month was 3.19%.

Market outlook

SunSirs melamine analysts believe that the current upstream urea price is temporarily stable and the cost impact is limited. As the price of melamine rises to a high level, downstream procurement has slowed down, but the company is supported by the pending support and there is no short-term pressure. It is expected that the melamine market will mainly operate at a high level in the short term, and more attention should be paid to market news guidance for specific trends.

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

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