SunSirs: The Melamine Market Was Mainly Stable (July 3-7)
July 10 2023 13:32:57 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of July 7th, the average price of melamine from enterprises was 6,575.00 RMB/ton, which was unchanged from Monday's price.
Analysis review
The melamine market was mainly stable this week. Recently, the raw material urea market had slightly increased, and cost support increased. In addition, some companies in the northern region had undergone equipment maintenance, which supported the market's attitude towards high prices. However, downstream demand was flat, and inquiries and purchases followed up just in needed. Enterprise owners mainly completed preliminary orders, while the focus of negotiations in the melamine market was stable.
Upstream urea, according to the Commodity Market Analysis System of SunSirs, the domestic urea market temporarily stabilized on July 6th. On July 6th, the reference price of urea was 2,327.50 RMB/ton, an increase of 2.82% compared to July 1st (2,263.75 RMB/ton).
Market outlook
Melamine analysts from SunSirs believe that as of the 7th, cost support still existed, supply support was still acceptable, and demand followed up mainly on demand. The market atmosphere was average, and it is expected that in the short term, the melamine market may wait and see, and more attention needs to be paid to changes in raw material urea prices.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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