Melamine supply was disrupted due to plants shutdown in the US market. Melamine plants like Cornerstone Chemical remained under planned maintenance throughout January xxxx. However, sufficient inventory and tepid demand kept the melamine prices low. Downstream buyers stocked the material ahead of the plant shutdown.
Feedstock urea prices surged during the month that provided some support to melamine prices and stopped declining significantly. Urea Prices got support from the raw material gas prices. Natural gas prices surged for the heating purpose due to severe winter following the mid-month. Chemical plants and refinery operation are disrupting due to freezing temperature.
Melamine export market improved in recent months due to low prices. Procurements activities remained robust by the Canada and UK buyers. Meanwhile the competitive prices from Asian also remained a major issue that compelled the global manufacturers to keep the prices...
