SunSirs: The Melamine Market Was Stable and Slightly Declined in June (June 21-28)
June 29 2023 09:27:45     SunSirs (John)Price trend
According to the Commodity Market Analysis System of SunSirs, as of June 28th, the average price of melamine from enterprises was 6,600.00 RMB/ton, a decrease of 7.37% compared to June 1st.
Analysis review
In June, the melamine market remained stable and sorting out, with some high-end prices lowered by enterprises. In the first half of the month, the price of raw material urea fluctuated, affecting the mentality of the industry on the cost side. The utilization rate of supply side production capacity increased, downstream demand was flat, and the downstream in demand mainly followed up in an appropriate amount. Enterprises shipped according to the market, and the quotation was mainly stable, while some high-end prices declined and adjusted. In the second half of the month, the price of raw material urea rose in a narrow range, with average cost support. Enterprises mainly executed preliminary orders, downstream inquiries and procurement were just in needed. The melamine market was stable and consolidated.
Upstream urea, according to the Commodity Market Analysis System of SunSirs, the reference price for urea on June 27th was 2,239.38 RMB/ton, a decrease of 6.79% compared to June 1st (2,402.50 RMB/ton).
Market outlook
Melamine analysts from SunSirs believe that the rise in raw material urea prices led to an increase in cost support. Enterprises mainly executed advanced orders, while downstream demand was average. The market had a strong wait-and-see atmosphere, and it is expected that in the short term, the melamine market may be stable and wait-and-see, and more attention should be paid to market news guidance.
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