SunSirs: Cost Support Increased, and the Melamine Market Rose (July 10-14)
July 14 2023 14:18:42 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of July 14th, the average price of melamine from melamine enterprises was 6,675.00 RMB/ton, an increase of 1.52% compared to Monday's price.
Analysis review
The melamine market rose this week. Recently, the raw material urea market saw an increase in market prices, cost support was increased, supporting the market's attitude of supporting high prices. Enterprises mainly executed advance orders, but the spot supply was tight. Downstream followed up just in demand, and the demand side was average. There was a strong wait-and-see atmosphere.
Upstream urea, according to the Commodity Market Analysis System of SunSirs, the reference price for urea on July 13th was 2,376.25 RMB/ton, an increase of 4.97% compared to July 1st (2,263.75 RMB/ton).
Market outlook
Melamine analysts from SunSirs believe that the current cost support is strong, and there is currently no pressure on enterprise sales. Downstream mentality is still cautious, and procurement is mainly based on demand. It is expected that in the short term, the melamine market may be stronger and more attention needs to be paid to changes in raw material urea prices.
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