SunSirs: Demand Was Insufficient and Melamine Market Was Weakly Operating
February 17 2023 10:44:17 SunSirs (John)
Price trend
According to the monitoring sample data of SunSirs, as of February 16, the average price of melamine in melamine enterprises was 8,266.67 RMB/ton, down 0.80% from Monday's price.
Analysis review
This week's melamine market was weak. Recently, the market price of raw material urea fell first and then rose. The cost support was general. Some units at the supply end resumed production, and the melamine market operating rate increased slightly. However, the demand follow-up was insufficient. The export market was general. The domestic downstream demand recovery was slow. The market transaction was just needed. The contradiction between supply and demand was prominent. The focus of the melamine market was weaker.
For upstream urea, the domestic urea market rose on February 16. On February 15, the reference price of urea was 2,722.00 RMB/ton, down 2.26% from that of February 1 (2,785.00 RMB/ton).
Market outlook
Melamine analysts from SunSirs believe that the price of raw material urea rose, the cost support was limited, the supply was abundant, and the demand was still weak. It is expected that the melamine market will be sorted out weakly in the short term, and more attention should be paid to the changes in cost.
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