Price trend
The melamine market is mainly stable this week. According to the Commodity Market Analysis System of SunSirs, as of November 17th, the average price of melamine enterprises is 7,325.00 RMB/ton, which is unchanged compared to Monday's price.
Analysis review
Cost side: According to the analysis system chart of the commodity market of SunSirs, the raw material urea market has recently experienced a slight fluctuation after a decline, which has limited support for the melamine market. On November 16th, the reference price of urea was 2,558.33 RMB/ton, an increase of 1.12% compared to November 1st (2,530.00 RMB/ton).
Supply and demand side: The utilization rate of melamine production capacity has increased compared to the previous period, and the market supply has increased. Enterprise owners mainly place preliminary orders, while downstream demand follows up generally. Procurement is mainly on demand, and the market atmosphere is light.
Market outlook
Melamine analysts from SunSirs believe that the current high volatility in raw material urea prices and average cost support have resulted in a relatively high level of melamine production capacity utilization. Enterprises mainly execute advance orders and purchase downstream on demand. It is expected that in the short term, the melamine market may be on the sidelines for consolidation and operation, and more attention should be paid to market news guidance.
