SunSirs: The Melamine Market Was Mainly Stable (January 29-February 2)
February 04 2024 14:29:55 SunSirs (John)
Price trend
The melamine market had remained stable this week. According to the Commodity Market Analysis System of SunSirs, as of February 2nd, the average price of melamine enterprises was 7,450.00 RMB/ton, which was unchanged from Monday (January 29th).
Analysis review
Cost side: According to the analysis system chart of the commodity market in SunSirs, the reference price of urea on February 1st was 2,431.67 RMB/ton, a decrease of 2.15% compared to January 1st (2,485.00 RMB/ton). Recently, the market price of raw material urea had risen, and the cost was still supported by the melamine market.
Supply and demand side: Recently, some enterprises had recovered their equipment, and the industry's capacity utilization rate had increased. As downstream factories gradually relaxed, the demand side had slowed down, and there were sufficient orders waiting to be issued by enterprises. The focus of negotiations in the melamine market had remained stable, with some enterprises offering discounts and receiving orders.
Market outlook
Melamine analysts from SunSirs believe that the cost impact was limited, the industry was operating at a high level, and companies were mainly executing advance orders in an orderly manner. It is expected that in the short term, the melamine market may be stable and consolidated, and more attention needs to be paid to market news guidance.
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