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SunSirs: The Melamine Market Was Mainly Stable but Weak (August 21-25)

August 26 2020 14:52:28     SunSirs (John)

Price trend

Recently, the melamine market has been stable but weak. According to the monitoring sample data of SunSirs, as of August 25, the average quotation price of melamine companies was 5,533.33 RMB/ton, which was the same as on August 21 and increased by 9.21% compared with July 25.

Analysis review

On August 21, the average quotation price of melamine companies was 5,533.33 RMB/ton. Downstream demand was flat, sales of manufacturers were under pressure, high-end prices in some markets were loose, and the market was mainly stable. On the 25th, the operating rate of melamine was high, and downstream demand did not improve significantly. The market atmosphere was weak. The quotations of enterprises were mainly stable, and the prices of some enterprises were lowered. The market for melamine was stable but declined.

Upstream urea, according to the monitoring sample data of the business agency, the price of urea in Shandong fell slightly this week (August 17-21), and the quotation fell from 1,766.67 RMB/ton at the beginning of the week to 1,743.33 RMB/ton at the weekend, a drop of 23.34 RMB/ton. or down 1.32%, and down 4.65% from the same period last year. On the whole, the urea market dropped slightly this week. On August 21, the urea commodity index was 81.09. On August 24, the urea market in Shandong dropped slightly. The upstream liquid ammonia dropped slightly recently. The cost support was average and the downstream demand was average. Follow up appropriately with the compound fertilizer factory, and the middlemen are cautious in receiving the goods.

Market outlook

The melamine analyst of SunSirs believes that the price of raw urea has fallen slightly recently and the cost support has weakened. The operating rate of melamine is relatively high, but the downstream demand is weak. It is expected that in the short term, the melamine market may be stable and weak.

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