According to the Commodity Market Analysis System of Shengyishe, as of March 21, the average price of melamine enterprises was 7325.00 yuan/ton, a decrease of 0.68% compared to March 15 (the reference price of melamine was 7375.00 yuan).
During this period (3.15-3.21), the melamine market continued to decline, and the supply-demand contradiction in the market still existed. Small transactions were mainly in demand, and some companies were under pressure to ship, resulting in price reductions. On March 21, the mainstream ex factory price reference for melamine in East China was around 6600-6700 yuan/ton, with actual orders mainly negotiated.
Cost side: According to the analysis system chart of the commodity market in Shengyishe, the reference price for urea on March 20th was 2501.67, a decrease of 0.73% compared to March 1st (2520.00). Recently, the urea market in Shandong has slightly declined, providing moderate support for the melamine market. Short term cost side support may still be limited.
Supply and demand side: Some companies on the supply side are experiencing fluctuations in their equipment, and the industry is still operating at a high level of around 70%. The market supply is sufficient, but the demand side is following slowly. The downstream board market is mainly affected by the real estate industry, and the demand for melamine in the market is average. The demand side is generally weak, and companies are willing to offer more profits and take orders. The downstream procurement mentality is still cautious, and in the short term, the market supply is strong and the demand is weak, which may continue.
In summary, there is still insufficient short-term market support, but in the early stage, the price of melamine has continued to weaken, and companies have weak intentions to sell low. Downstream purchasing sentiment is cautious, and the market atmosphere is average. It is expected that in the short term, the melamine market may remain stagnant and wait-and-see. The specific trend still needs to pay attention to market news guidance.
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