Price trend

According to the monitoring sample data of SunSirs, as of October 26, the average price of melamine of melamine enterprises was 8,266.67 RMB/ton, which was the same as that on last Friday (October 21), 1.20% lower than that on September 26, and 2.48% higher in a three-month cycle.

Analysis review

Recently, the quotation of enterprises in the melamine market was mainly stable, but the market was under pressure. From the perspective of cost, the raw material urea was operating stably after the recent price drop, and the cost support for melamine weakened. From the supply and demand side, the operating rate of melamine increased slightly. Some enterprises mainly exported, while domestic downstream procurement was mainly on demand. The demand side was weak, and the imbalance between supply and demand dragged the melamine market to be stable and weaker.

As for upstream urea, the domestic urea market was temporarily stable on October 25. According to the monitoring data of SunSirs, the reference price of urea was 2,458.00 RMB/ton on October 25, a decrease of 3.8% compared with October 1 (2,555.00 RMB/ton).

Market outlook

Melamine analysts from SunSirs believe that the current cost support is limited, and the supply side operating rate has improved, but the follow-up of the demand side is mainly based on demand, and the market atmosphere is weak. It is expected that in the short term, the melamine market will be stable and weak, and more attention should be paid to the market news guidance.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.