Price trend

According to the Commodity Market Analysis System of SunSirs, as of May 18th, the average price of melamine from melamine enterprises was 7,375.00 RMB/ton, a decrease of 0.67% compared to Monday's price.

Analysis review

The melamine market was operating in a weak trend this week. Recently, the raw material urea market was operating weakly, with insufficient cost support. Some units were shut down for maintenance, resulting in a decline in the utilization rate of melamine production capacity. However, downstream demand was not good, with replenishment mainly based on demand, and there was still a contradiction between supply and demand in the market. The atmosphere in the melamine market was light.

Upstream urea, according to the commodity market analysis system of SunSirs, was operating weakly and steadily in the domestic urea market recently. On May 17th, the reference price of urea was 2,525.00 RMB/ton, a decrease of 3.4% compared to May 1st (2,613.75 RMB/ton).

Market outlook

Melamine analysts from SunSirs believe that as of the 18th, cost support was weak, with downstream procurement mainly being on demand, and the decline in supply side operating rates has slightly supported the market. It is expected that in the short term, the melamine market may be wait-and-see and consolidated, and more attention needs to be paid to market news guidance.

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