Production: Melamine powder monthly output was 130,900 tons, up 6.42% from the previous month.
Demand: Domestic demand is average and market trading sentiment is weak.
In March, the average spot price of melamine in China was 5,594 yuan/ton, up 1.52% from the previous month and down 15.97% from the previous year. In the first half of the month, the domestic melamine market was mainly stable, and downstream demand continued to be flat. Although there was rigid demand for purchases, the quantity was small and relatively scattered, which did not form a strong support for the market.
In addition, the raw materials fluctuated steadily, and the mentality of the industry was weak. However, with the support of many melamine maintenance devices and reduced supply, manufacturers maintained stable prices. In the second half of the month, as the price of raw material urea gradually increased, under cost pressure, coupled with the tight shipment of some melamine enterprises, the price rose slightly.
In April, with the resumption of maintenance equipment, the supply of melamine is expected to be 140,000 tons, which is at a high level. Downstream demand is general, and purchases are still dominated by rigid demand, and the market trading atmosphere is unlikely to improve significantly. However, the price of raw material urea may continue to rise. Under cost pressure, the price of melamine is expected to fluctuate in a narrow range.
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