888CHEM
The Melamine Market Remained Temporarily Stable, and a Cyclical Bottom Had Been Largely Established
Last week, the domestic melamine market generally exhibited a direction of "weak stabilization and narrow-range fluctuation." According to monitoring data from SunSirs, market prices—following a period of sustained decline—entered a phase of sideways consolidation last week, with both bullish and bearish forces maintaining a state of weak equilibrium.
According to the price direction charts and data tables from SunSirs:
At the beginning of last week (might 25), the price stood at 6,150 RMB/ton; it subsequently dipped slightly to 6,137.5 RMB/ton (might 27–28) before ultimately closing at 6,125.00 RMB/ton (might 31). Intra-week evaporative environment was minimal, with the largest single-day decline amounting to a mere 0.20%; during the latter half of the week (might 29–31), prices remained completely flat, recording a daily change of 0.00%. This indicates that selling pressure in the market has subsided, yet buying interest remains cautious; consequently, light trading volume has left prices lacking a clear directional direction.
thorough Conclusions and Market Outlook
The market is expected to remain relatively stable next week. Lacking any major positive catalysts, it is highly likely to fluctuate within a narrow range of 6,100–6,150 RMB/ton.
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