Price trend
Recently, the melamine market has been operating stably. According to the monitoring sample data of SunSirs, as of November 3, the average quotation price of melamine companies was 5,983.33 RMB/ton, an increase of 4.97% compared with last Tuesday (October 27), and an increase of 6.85%compared with October 3.
Analysis review
The supply of goods in the market is tight, and there is no pressure for companies to sell goods temporarily. Market prices in some areas have risen, and the market has been operating firmly. As of the 3rd, the mainstream price of melamine in Shandong was around 6,000 RMB/ton, the mainstream price of melamine in Xinjiang was around 5,100 RMB/ton, the mainstream price of melamine in Sichuan was around 5,700 RMB/ton, and the mainstream price of melamine in Henan was around 5,900 RMB/ton.
In the upstream urea, the ex-factory quotation of urea in Shandong region increased on November 2, which was an increase of 13.33 RMB/ton or 0.75% from the quotation on October 30. The upstream liquid ammonia has consolidated at a high level recently, and the cost support was good. Domestic demand was acceptable. Agricultural demand in some areas has been followed up. Proper purchases have been made. Industrial demand followed the market, and bargain hunting was the main focus. Some sources of goods continued to gather in ports. On the supply side, some companies restricted production, equipment maintenance, and local stocks were tight.
The commodity price index of urea and melamine on November 2 was 123.67, a decrease of 2.68 points from previous day, a decrease of 9.89% from the highest point in the cycle of 137.25 points (2020-04-21), and an increase of 54.09% from the lowest point of 80.26 points on October 14, 2013. (Note: Period refers to 2012-01-01 to present)
Market outlook
SunSirs melamine analysts believe that the recent upstream urea prices have risen slightly, the superimposed supply is tight, and the market performance is acceptable. It is expected that the melamine market may be firm and stable in the short term. More specific trends need to pay attention to market news guidance.
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