SunSirs: The Market Price of Melamine Fell in March

Price trend

According to the monitoring sample data of SunSirs, as of March 30, the average price of melamine in melamine enterprises was 7,975.00 RMB/ton, a decrease of 3.63% compared to the price on March 1.

Analysis review

The melamine market fell in March. In the first ten days, the market price of raw material urea fluctuated in a narrow range, with some support in cost side. The supply side equipment was shut down for maintenance, and the operating rate declined slightly. However, there was no significant improvement in downstream demand, more of downstream mainly digested early low-cost inventory. Market transactions were just in demand, and the focus of negotiations was mainly on stability. In mid March, the raw material urea market declined slightly, but there was still support in cost side. The utilization rate of melamine production capacity increased, and manufacturers orderly executed early orders. However, due to insufficient follow-up of new orders in the market, the market mentality was under pressure, and the melamine market was operating to be weaker. In late March, the price of raw material urea fell slightly, cost support was weak, and the operating rate increased. However, the enthusiasm for downstream procurement was not high. Market transactions were on demand, and the trading atmosphere was cold. The melamine market fell.

According to monitoring data from SunSirs, the reference price of urea on March 29 was 2,787.50 RMB/ton, a decrease of 1.48% compared to March 1 (2,829.38 RMB/ton).

Market outlook

Melamine analysts from SunSirs believe that as of the 30th, the price of raw material urea was weak, cost support weakened, and demand remained weak. Enterprise shipments were under pressure, and the mindset of the industry was insufficient. It is expected that in the short term, the melamine market may be weak and consolidated, and more attention needs to be paid to market news guidance.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.