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SunSirs: The Melamine Market Remained Stable with Minor Fluctuations, and Transactions Were on Demand
May 29 2024 15:33:14SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of May 24th, the average price of melamine enterprises was 7,050.00 RMB/ton, an increase of 0.36% compared to Monday's price.

Analysis review

This week, the melamine market had remained stable with minor fluctuations, and companies were adjusting their quotes flexibly based on their own situation. Recently, the price of raw material urea had risen, and the cost support had increased, weakening the willingness of enterprises to ship at low prices. The maintenance of some devices on the supply side had led to a reduction in market supply, with some enterprises mainly executing pre received orders. However, domestic downstream demand was weak, and high prices in the market were weak for transactions. Holders were willing to offer according to the market, and transactions were mainly small orders on demand.

Raw material urea:

According to the commodity market analysis system of SunSirs, the reference price for urea on May 23 was 2,497.50 RMB/ton, an increase of 2.53% compared to May 1 (2,435.83 RMB/ton). Entering May, the domestic urea price rose, and the cost pressure on the melamine market continued to increase.

Market outlook

Melamine analysts from SunSirs believe that the market was constrained by demand, and the price of melamine may be under pressure. However, the high price of raw material urea was constrained by cost pressure, and manufacturers had a price mentality. The market atmosphere was stagnant, and it is expected that the melamine market will operate weakly and steadily in the short term. More attention should be paid to market news guidance.

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