SunSirs: Melamine Market Was Weak (May 22-26)
May 26 2023 13:50:11 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 26th, the average price of melamine of melamine enterprises is 7,325.00 RMB/ton, a decrease of 0.68% compared to Monday's price.
Analysis review
The melamine market was operating in a weak trend this week. The recent decline in the raw material urea market had weakened cost support. The utilization rate of melamine production capacity decreased, and the market supply shrunk. However, downstream demand was weak, and procurement was mainly in needed. Enterprise sales were under pressure, and the melamine market gave up profits to sell. The mentality of the industry was insufficient, and the market was operating quietly.
Upstream urea, according to the Commodity Market Analysis System of SunSirs, was in a weak trend in the domestic urea market recently. On May 25th, the reference price for urea was 2,460.00 RMB/ton, a decrease of 5.88% compared to May 1st (2,613.75 RMB/ton).
Market outlook
Melamine analysts from SunSirs believe that the current cost support is insufficient, downstream demand is weak, and with the expectation of supply side growth, it is expected that the melamine market may operate under pressure in the short term, 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.
- 2024-05-17 SunSirs: High Cost, Weak Demand, the Melamine Market Was Stable and Sorting out
- 2024-05-13 SunSirs: The Melamine Market Was Mainly Stable, and the Atmosphere Was Average
- 2024-05-06 SunSirs: The Market Price of Melamine Fell in April
- 2024-04-22 SunSirs: The Market of Melamine Was Stable and Consolidated (April 15-19)
- 2024-04-12 SunSirs: Demand Was Insufficient and the Melamine Market Was Operating under Pressure
