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SunSirs: The Market of Melamine Was Stable and Consolidated (April 15-19)

April 22 2024 15:24:07     SunSirs (John)

Price trend

This week, the melamine market had been steadily consolidating and operating. According to the Commodity Market Analysis System of SunSirs, as of April 19th, the average price of melamine enterprises was 7,025.00 RMB/ton, which was basically unchanged compared to Monday's price.

Price influencing factors:

Cost side: According to the commodity market analysis system of SunSirs, the reference price for urea on April 18th was 2,435.00 RMB/ton, an increase of 0.83% compared to April 1st (2,415.00 RMB/ton). The recent increase in raw material urea prices had provided increased support for the melamine market.

Supply and demand side: Recently, some devices had been shut down for maintenance, resulting in a slight decline in capacity utilization. The supply side supported the market's upward trend. Downstream buyers chose to buy at lower prices, but their follow-up on buying high priced raw materials was still weak, and the overall market transaction was mainly based on demand.

Market outlook

Melamine analysts from SunSirs believe that short-term costs and supply support are temporarily stored, and companies mainly execute pending orders. Downstream follow-up continues to meet demand, and market transactions are average. It is expected that melamine prices will remain stable with slight fluctuations in the short term, and more attention should be paid to downstream pre holiday stocking conditions.

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