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SunSirs: The Melamine Market Was Mainly on the Sidelines (March 25-29)
March 30 2022 10:09:51SunSirs(John)

Price trend

According to the monitoring sample data of the business community, as of March 29, the average price of melamine enterprises was 12,333.33 RMB/ton, which was flat compared with the price on Friday (March 25), and decreased by 1.33% compared with the price on March 1. The price increased 26.71% in a three-month cycle.

Analysis review

The recent melamine market was mainly stable. Recently, the price of urea has been running weakly, the cost support has weakened, the operating rate of melamine has been high, the demand side has been insufficient, and the manufacturers' shipments have not been smooth. In addition, logistics and transportation had a certain impact, the market trading atmosphere was light, and the price was stable and wait-and-see.

Upstream urea, the domestic comprehensive price of urea fell slightly on March 28, down 27 RMB/ton or 0.90% from the price on March 25, and a year-on-year increase of 39.83%. Overall, the cost support for urea was general, the downstream demand increased, the supply of urea increased, and the market outlook for urea will mainly fluctuate within a narrow range.

Market outlook

The melamine analyst of SunSirs believes that the current cost-side support is limited, the demand-side performance is not good, and the market has a strong wait-and-see atmosphere. It is expected that in the short term, the melamine market may be weak and wait-and-see.

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