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SunSirs: There Is No Obvious Change in the Downstream Melamine Market

June 04 2020 14:02:57     SunSirs (John)

Price trend

On June 2, the melamine commodity index was 54.48, the same as the former day, a new low in the cycle, 45.52% lower than the peak of 100.00 on September 18, 2011. (Note: cycle refers to 2011-09-01 to now)

 

Analysis review   

Product: According to the price monitoring of SunSirs, there was no significant change in the melamine market on June 3. On the 3rd, the average price of melamine companies was 5,066.67 RMB/ton, which was flat compared with June 2 and fell 0.65% compared with May 3. At present, the supply side of melamine supply is stable, and the downstream demand side is general. It is just needed to enter the market, and the melamine market is mainly stable. At present, the mainstream quotation of melamine market in Xinjiang is around 4,400 RMB/ton; the mainstream quotation of melamine market in Sichuan is around 4,800 RMB/ton; the mainstream quotation of melamine market in Henan is around 4,600 RMB/ton.

Industry chain: According to the price monitoring of SunSirs, the urea market in Shandong rose slightly on June 3. Upstream liquid ammonia prices were consolidating at a high level, giving urea a certain cost support. Downstream rubber sheet factories and compound fertilizer factories followed up in moderation. Intermediaries were cautious in receiving goods. The market outlook expects urea prices to fluctuate slightly, with limited impact on melamine.

Industry: According to the price monitoring of SunSirs, on June 2, 2020, there were 19 kinds of commodities rising in the chemical sector of the commodity price increase and decrease list, of which 1 kind of commodities rose more than 5%, accounting for 1.1% of the monitored commodities in this sector ; The top three commodities for the increase were sulfur (5.70%), hydrogen peroxide (3.00%), and silicone DMC (2.36%). There were 11 kinds of commodities that fell sequentially, and 1 kind of commodities that fell more than 5%, accounting for 1.1% of the monitored commodities in this sector; the top 3 products that fell were butadiene (-8.19%) and polysilicon (-3.14 %), acetic acid (-1.24%). The average daily increase or decrease was 0.06%.

 

Market outlook

Melamine analysts of SunSirs believe that the recent increase in the price of raw material urea has a limited impact on melamine. It is only necessary to purchase downstream. It is expected that the melamine market will be stable in the short term.

 

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