SunSirs: The Downstream Purchase just in Needed, and the Melamine Market Was Mainly Stable
March 10 2023 09:55:50 SunSirs (John)
Price trend
According to the monitoring sample data of SunSirs, the average price of melamine in melamine enterprises was 8,250.00 RMB/ton as of March 9, which was the same as that on Monday.
Analysis review
The melamine market this week was mainly stable. Recently, the market price of raw material urea had fluctuated in a narrow range, and the cost support still existed. Some devices on the supply side were shut down for maintenance, and the operating rate declined slightly. Enterprises mainly shipped orders in the early stage, and the shipment situation was fair. The downstream digested the low price inventory in the early stage, the market transaction was just in needed, and the focus of negotiation was mainly stable.
For upstream urea, the domestic urea market rose on March 9. On March 8, the reference price of urea was 2,829.38, which was the same as that on March 1.
Market outlook
Melamine analysts from SunSirs believe that the cost side has some support and the supply side has little impact, but the downstream demand has not improved significantly. It is expected that in the short term, the melamine market may still be on the sidelines, and more attention should be paid to market information guidance.
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