Production: Melamine powder monthly output is 125,000 tons, an increase of 2.63% compared with the previous month.
Demand: It’s the off-season for domestic demand. The trading atmosphere in the market is just so-so.
In July, the average spot price of melamine in China rose slightly. In late June, some plants in Southwest China, Shanxi, and Xinjiang were shut down for maintenance. The maintenance plants recovered slowly.
And at the beginning of July, there was another new plant failure and shutdown. In early July, the capacity utilization rate of melamine fell to a new low of 46.6%. The supply of goods in the market was tight. The melamine market went up, and the mainstream ex-factory price of atmospheric pressure method increased.
However, starting from the middle of the month, as the maintenance plants were restarted one after another, the tight supply situation in the market was relieved and gradually became more abundant. Plus, it is in the traditional off-season for demand. The price of raw material urea continues to decline. Business people are pessimistic. The price of melamine gradually drops.
In early July, the capacity utilization rate fell to the lowest level of the year. In the middle of July, plants were restarted one after another. Downstream demand is not strong.
In July, after a period of fluctuations, the price of domestic urea market went down.
In August, although some plants have maintenance plans, most plants maintain normal operation. And Yankuang in Xinjiang and Jinkong Tianqing are expected to ship goods. The supply of melamine may remain at a relatively high level.
In terms of demand, the downstream recovery is slow. It may still be mainly based on necessary purchases. It is difficult to boost the market atmosphere for the time being.
Generally speaking, there is not enough good news in the melamine market. The market may operate weakly. Adjusting prices flexibly according to the situation of raw material urea is the main approach.
Remark: The analysis is based on transaction in China’s Melamine domestic market, it’s only for reference.
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