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SunSirs: Insufficient Demand Led to a Decline in the Market Price of Melamine

March 05 2024 16:11:12     SunSirs (John)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 4th, the average price of melamine enterprises was 7,450.00 RMB/ton, a decrease of 0.33% compared to last Tuesday (February 27th).

Analysis review

Cost side: According to the analysis system chart of the commodity market in SunSirs, the reference price of urea on March 1st was 2,520.00 RMB/ton,, an increase of 3.63% compared to February 1st (2,431.67 RMB/ton,). On March 4th, the comprehensive price of urea in Shandong was 2,515 RMB/ton, a decrease of 0.20% compared to the previous day. The cost side had limited support for the melamine market.

Supply and demand side: As of March 4th, the melamine industry was operating at a high level, with sufficient market supply. Although downstream operations were gradually underway, demand release was slow, and inquiries and purchases ere mainly in demand. The atmosphere for new orders in the market was light, and manufacturers were gradually under pressure on the supply side as early orders were executed. Enterprises were offering discounts and receiving orders, resulting in a decline in the price center of melamine.

Market outlook

The melamine analyst from SunSirs believes that the cost support was average, and the supply-demand contradiction in the market was evident, with insufficient positive support. It is expected that in the short term, the melamine market may experience weak consolidation, and more attention should still be paid to market news guidance..

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