Price trend

According to the Commodity Market Analysis System of SunSirs, as of June 9th, the average price of melamine from enterprises was 6,625.00 RMB/ton, a decrease of 7.02% compared to Monday's price.

Analysis review

This week, the melamine market was mainly stable, with some companies lowering their high-end prices. Recently, the raw material urea market saw an increase in price and cost support strengthed, which had boosted the mindset of the industry. The supply side capacity utilization rate had increased, but the actual demand was still average. Downstream followed up moderately on demand, and enterprises mainly shipped in an orderly manner. The market had a strong wait-and-see atmosphere.

Upstream urea, according to the Commodity Market Analysis System of SunSirs, had recently seen an increase in the domestic urea market. On June 8th, the reference price for urea was 2,404.38 RMB/ton, an increase of 0.08% compared to June 1st (2,402.50 RMB/ton).

Market outlook

Melamine analysts from SunSirs believe that there was currently some support on the cost side, while supply and demand support was average. Market transactions were mainly based on demand. It is expected that in the short term, the melamine market may remain stable and operate on a wait-and-see basis, and more attention needs to be paid to market news guidance.

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