According to the Commodity Market Analysis System of SunSirs, as of October 26th, the average price of melamine enterprises was 7,175.00 RMB/ton, which is unchanged compared to Monday's price.
Analysis review
The melamine market was mainly stable this week. Recently, the price of raw material urea had risen, with strong cost support and fluctuations in some devices. The industry's capacity utilization rate was around 60%. Enterprise owners mainly completed early orders, and downstream companies followed up just on demand. Holders shipped according to the market, and enterprise quotations were mostly stable and wait-and-see.
Upstream urea: According to the Commodity Market Analysis System of SunSirs, the domestic urea market rose on October 25th. On October 25th, the reference price of urea was 2,553.33 RMB/ton, a decrease of 0.07% compared to October 1st (2,555.00 RMB/ton). Recently, the cost had significant support for the melamine market.
Market outlook
Melamine analysts from SunSirs believe that cost support still existed, and downstream purchases continued to be in demand. Market trading was orderly, and it is expected that in the short term, the melamine market may remain stable and operate on a wait-and-see basis. More attention needs to be paid to market news guidance.
