Price trend

The melamine market has slightly declined this week. According to the Commodity Market Analysis System of SunSirs, as of the morning of November 10th, the average price of melamine enterprises was 7,325.00 RMB/ton, a decrease of 0.68% compared to Monday's price.

Analysis review

Cost side: According to the analysis system chart of the commodity market of SunSirs, the price of raw material urea has been relatively strong since November, providing strong support for the melamine market. On November 9th, the reference price of urea was 2,565.00 RMB/ton, an increase of 1.38% compared to November 1st (2,530.00 RMB/ton).

Supply and demand side: Some maintenance devices have restarted, and there has been an increase in supply side. Downstream demand is poor, and inquiries and procurement follows up mainly in needed. The market trading atmosphere is flat, and the supply and demand side lacks support for the melamine market.

Market outlook

Melamine analysts from SunSirs believe that the short-term high price operation of raw material urea still puts cost pressure on the melamine market, and there is insufficient buying in the downstream market. In addition, some maintenance devices will recover, and the supply and demand support capacity is limited. It is expected that in the short term, the melamine market may remain stagnant and operate on a wait-and-see basis, and more attention needs to be paid to market news guidance.

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