China's melamine market rose first and then fell in February. As of February 25, the average ex-factory price of China's melamine normal pressure products this month was 13,200 yuan/ton ($2,091/ton), down 35.86% from the average price of the same period last month.
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Melamine Market Analysis Forecast for March
- From the perspective of raw materials, March will enter the peak season for spring ploughing fertilizer, and the level of downstream industrial start-up load will gradually increase. Therefore, there is an opportunity for urea prices to rebound, but in the case of relatively sufficient domestic supply, it is expected that the increase may be limited.
- From the perspective of supply and demand, the start-up load level of melamine enterprises will be at a high position, and the supply of goods will be relatively abundant; in addition, the demand side will gradually improve, domestic demand will increase, and exports still need to be purchased, and the downstream market will show a positive trend.
- Huafu Chemicals believes that with the recent decline in prices, the possibility of a bottoming out of the market cannot be ruled out in the later period. Generally speaking, the market may fluctuate more frequently.
- In addition, for the forecast for the next three months, the downstream is basically in the traditional peak season of consumption, and domestic and foreign rigid demand will provide favorable support for the market, so it is expected that the overall price will fluctuate at a high level.
Statistics on the operating load rate of melamine enterprises in China (February 2022)
The average operating load rate of Chinese melamine enterprises in February was 67.01%, a decrease of 1.62 percentage points from the previous month and a year-on-year increase of 9.74 percentage points.
Huafu Chemicals believes that the average start-up load level of enterprises in March will fluctuate more than 70%.
Post time: Mar-03-2022