SunSirs: The Melamine Market Was Stable and Adjusted (August 1-8)
August 09 2023 10:57:31 SunSirs (John)
Price trend
Since August, the melamine market had risen steadily. According to the Commodity Market Analysis System of SunSirs, as of August 8th, the average price of melamine from melamine enterprises was 7,050.00 RMB/ton, an increase of 2.55% compared to August 1st.
Analysis review
Supply and demand: At the beginning of the month, the capacity utilization rate of the melamine industry was about 64%, and the downstream purchased just on demand. The market trading atmosphere was general. The enterprises adjusted their quotations according to their own shipments. The market wait-and-see atmosphere was strong, and the melamine market was stable and adjusted.
Cost side: In August, the raw material urea market price first rose and then fell. According to the Commodity Market Analysis System of SunSirs, the reference price of urea on August 7th was 2,584.29 RMB/ton, a decrease of 1.47% compared to August 1st (2,622.86 RMB/ton). At the beginning of the month, the cost side support was strong, mainly supporting the market and price. As urea prices declined, support for the melamine market gradually weakened.
Market outlook
Melamine analysts from SunSirs believe that cost support was weak, while supply and demand support was average. It is expected that in the short term, the melamine market may be weakly sorted out, 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.
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