SunSirs: Analysis of Melamine Market in 2023

Price trend in 2023:

According to the Commodity Market Analysis System of SunSirs, the average price of domestic melamine enterprises was 8,233.33 RMB/ton on January 1, 2023. As of December 31, the average price of domestic melamine enterprises was 7,475 RMB/ton, with a decrease of 9.21% in the year's market.

In 2023, the melamine market first fell and then rose, with an overall downward trend.

In the first half of the year, there was strong cost support in January, with a large number of melamine maintenance devices and decent performance in the export market. However, domestic demand remained average before and after the Spring Festival, and the market remained stable and observed consolidation. In February, the melamine market fluctuated narrowly and rose, with raw material urea showing a "v" - shaped trend, which had a certain impact on the melamine market trend. Maintenance equipment gradually resumed, and downstream demand fell short of expectations. From March to June, the price of raw material urea fluctuated and fell, with weakened cost support and sufficient market supply. However, downstream demand was poor, and rigid demand followed suit. The melamine market continued to decline.

In the second half of the year, from July to August, the price of raw material urea increased, cost support increased, industry capacity utilization decreased, and spot supply was tight, supporting the rise of melamine prices. Downstream demand mainly followed suit. In mid to late September, downstream demand was weak, and new orders in the market were not well executed. Some enterprises resumed production, increased supply, and the mentality of operators was insufficient. Holders lowered prices to attract orders. In October, the market price of melamine remained stable with minor fluctuations, and holders followed the market to ship. In November, enterprise quotations first rose and then fell, with average cost support in the middle and late stages. The utilization rate of melamine production capacity was high, and domestic downstream demand was weak. The cost support in December was still acceptable, with a large number of parking devices, concentrated downstream hoarding, active entry into the market for purchasing, and strong price operation.

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