Price trend
Melamine market rose steadily in the first half of April. According to the monitoring sample data of SunSirs, as of April 15, the average price quoted by melamine enterprises was 10,050 RMB/ton, up 7.1% compared with April 1, up 24.07% compared with March 15,up 38.3% compared with January 1, and up 95.78% compared with the same period last year.
Analysis review
At the beginning of April, the melamine market was mainly stable. Most of the manufacturers carried out the orders received in advance, and there was no pressure to ship. On April 6, the quotation of enterprises rose. After the focus of market negotiation moved up, there was little fluctuation and the operation was mainly stable. Since April 9, the price of melamine has been steadily rising. Some enterprises are mainly export-oriented, while domestic sales are mainly rigid demand. With melamine price rising to high level, downstream cost pressure increased, and the resistance to high price raw materials increased gradually. However, due to the support of more orders to be issued, the spot supply was tight, the factory's quotation mentality was strong, and the market was pushed up, and stable after the low-end price of the market increased.
Upstream urea, On April 15, Shandong urea market was temporarily stable. Demand side: agricultural demand was mainly sporadic procurement; downstream compound fertilizer, plastic plate plant start load increased slightly, most went with the market. Supply side: as of 15th, the operating rate of urea enterprises was about 80%, up slightly, with a daily output of about 160,000 tons. The start-up load of urea enterprises was increased and the supply side was sufficient.
According to the price monitoring of SunSirs, on April 14, 2021, there were 20 kinds of commodities in the chemical industry sector of the rise and fall of bulk commodity prices list, among which 2 kinds of commodities increased by more than 5%, accounting for 2.2% of the number of commodities monitored in the sector; the top 3 commodities increased were epichlorohydrin (7.11%), butanone (6.12%) and styrene (2.47%). There were 11 kinds of commodities that declined on a month on month basis, and the top three products were ethanol (- 1.81%), polymerized MDI (- 1.74%) and 1,4-butanediol (- 1.09%). The average daily rise or fall was 0.22%.
Market outlook
Melamine analysts of SunSirs believe that at present, there are more orders waiting to be issued to support the market, enterprises have no pressure on sales, and the spot supply is tight. It is expected that in the short term, the domestic melamine market may be strong, and the specific trend needs to pay more attention to the downstream purchasing mentality.
