SunSirs: The Melamine Market Was Lighter (June 12-16)

https://www.chemnet.com   Jun 19,2023 SunSirs

According to the Commodity Market Analysis System of SunSirs, as of June 16th, the average price of melamine from melamine enterprises was 6,625.00 RMB/ton, which was unchanged from Monday's price.

Analysis review

This week, the melamine market was mainly stable, and the market atmosphere was relatively weak. The recent decline in the raw material urea market had led to a weakening of cost support, thesupply side capacity utilization slightly increase, downstream demand was flat, and inquiry and procurement were just in needed. The cost side had dragged down the melamine market, and the mentality among the industry was insufficient.

Upstream urea, according to the Commodity Market Analysis System of SunSirs, the domestic urea market had recently declined. On June 15th, the reference price of urea was 2,281.25 RMB/ton, a decrease of 5.05% compared to June 1st (2,402.50 RMB/ton).

Market outlook

Melamine analysts from SunSirs believe that as of June 16th, the raw material urea market was weaker, with insufficient cost support. Manufacturers mainly executed advance orders, while demand followed up just in needed. It is expected that in the short term, the melamine market may operate weakly and steadily, and more attention needs to be paid to changes in raw material prices.

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