Market Overview
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The market atmosphere for melamine this week is average, and overall, the fundamentals are weak. As of August 28th, the benchmark price of melamine in Shengyi Society was 6762.50 yuan/ton, a decrease of -0.92% compared to the beginning of this month (6825.00 yuan/ton). Due to the lack of favorable fundamentals and shipping pressure, enterprise prices have slightly loosened. In the short term, the market is weak and difficult to change.
Supply side
In August, the domestic urea market prices were weak and fell. As of August 27th, the ex factory price of urea in Shandong region is around 2010-2020 yuan/ton, in Hebei region it is around 2020 yuan/ton, in Henan region it is around 2000-2020 yuan/ton, and in Liaoning region it is around 2100 yuan/ton.
According to the Commodity Market Analysis System of Shengyi Society, as of August 27th, the reference average price of the domestic urea market was 2197 yuan/ton, a decrease of 5.67% from the reference average price of 2329 yuan/ton on August 1st.
In terms of demand
Recently, the melamine market has cooled down, and demand has been moderately followed up. It is reported that some sheet metal factories have recently reduced their operating load, and considering that the supply of melamine will increase in the later maintenance and restoration of multiple factories, downstream manufacturers and traders have reduced their demand for melamine procurement.
Overall, the operating rate continues to rise, and the operating rate of melamine will also be limited by profits. Domestic demand in September may weaken, and in the long run, the market lacks guiding factors and may mainly follow the trend.
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