Melamine Market Analysis In Oct.2024
News Melamine Market Analysis In Oct.2024 1. China Melamine Powder Export Date In Oct 2024, melamine exports were 43,900 tons, a month-on-month decrease of 3.94%;
In September 2024, melamine exports totaled 45,700 tons, a decrease of 10.92% compared to the previous month, with an average export price of $855.00 per ton, a decrease of 2.54% compared to the previous month.
Production: Monthly production was 133,100 tons, a decrease of 4.18% compared to the previous month.
Demand: Domestic demand showed no significant increase, with essential demand being the main driver.
In September, the spot price of melamine in China decreased by 1.89% compared to the previous month and by 23.23% year-on-year.
Before the Mid-Autumn Festival, the melamine market operated steadily, with urea prices continuing to decline. Downstream factories were cautious about purchasing melamine due to fears of price drops, leading to overall low inventory levels.
However, with some plants in the northern region undergoing maintenance, manufacturers were firm on prices. Essential demand from downstream industries followed suit, and supported by pre-received orders, melamine prices stabilized before the festival.
After the Mid-Autumn Festival, as previous orders were gradually fulfilled and urea prices continued to decline, manufacturers had a need to accept new orders, leading to a downward pressure on prices.
By the end of the month, most companies had received acceptable order volumes, and with a slight rebound in urea prices, melamine prices stabilized.
The domestic urea market in September showed a step-by-step decline, with prices hitting new lows for the year.
Melamine market was filled with bearish factors, leading to an overall downward shift in prices.
The capacity utilization rate of the melamine industry did not change significantly compared to the previous month.
In October, the capacity utilization rate of the melamine industry is expected to be relatively high, with sufficient supply and limited visible changes in downstream demand.
The supply-demand balance is not favorable enough, and the market may continue to operate weakly, with prices adjusting flexibly based on cost changes.
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