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SunSirs: Melamine Market Fell Due to Light Demand

September 04 2020 14:32:33     SunSirs (John)

Price trend

Recently (August 31-September 3) the melamine market has fallen. According to the monitoring sample data of the business agency, as of September 3, the average quotation price of melamine enterprises was 5,366.67 RMB/ton, which was a 3.01% decrease compared with the beginning of the week (August 31) and an increase of 0.63%compared with August 3.

Analysis review

On August 31, the average quotation price of melamine enterprises was 5,533.33 RMB/ton, and downstream demand was weak. Under the pressure of sales, companies cut prices mainly to attract orders. On September 2, the average price of melamine companies fell to 5,400 RMB/ton. At present, some devices have been shut down for maintenance, while other companies have stable production. The operating rate of melamine was high, but the downstream demand was insufficient. Enterprise sales were under pressure, and the market decline continued, and the price of melamine fell to 5,366.67 RMB/ton.

Upstream urea, according to the monitoring sample data of the business agency, the ex-factory price of urea in Shandong was 1,720 RMB/ton on September 2, and the Urea Commodity Index on September 2 was 80.00, the same as previous day, a 29.89% decrease from the highest point during the cycle of 114.11 points (2012-05-08), and an increase of 43.88% from the lowest point of 55.60 points on August 17, 2016. (Note: Period refers to 2011-09-01 to present)

Market outlook

The melamine analyst of SunSirs believes that the current supply of melamine in the market is sufficient. Due to the lack of downstream demand, the ability to digest melamine sources is limited, and the market is not good enough. It is expected that the melamine market may be under pressure in the short term, and more attention needs to be paid to market news guidance.

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