For the Quarter Ending June 2025
North America
• The Melamine Price Index in the US stayed largely stable in Q2 2025, with flat pricing in April, a slight lift in late May, and modest gains in June, supported by firming urea feedstock costs and restocking ahead of a July price hike by Cornerstone Chemical.
• April stability reflected sufficient domestic inventories and steady production, as weak demand from laminates, coatings, and molding compounds tied to a soft construction sector offset any upward momentum.
• May saw minimal price movement until late in the month, when buyers advanced purchases to secure volumes ahead of announced July increases, though downstream consumption stayed weak as housing starts and completions fell.
• June’s modest price uptick was driven by firm urea costs and continued restocking, but persistent construction sector weakness, soft overseas orders, and subdued laminates and coatings demand kept overall market sentiment cautious.
Why did the price of Melamine remain stable in July 2025 in North America?
• In July, the Melamine Price Index in North America remained flat as muted demand from laminates, engineered wood, and coatings industries coincided with weak cost support from feedstock urea.
• The Melamine Production Cost Trend stayed soft, with low urea prices enabling producers to keep offers competitive despite steady operating rates and sufficient inventory.
• The Melamine Price Forecast points to continued subdued pricing into August, as construction-linked demand stays weak, with buyers expected to restrict procurement to contractual volumes while relying on existing stock.
APAC
• The Melamine Price Index in China trended lower in Q2 2025, with prices staying steady in April and May but declining in June as weak urea feedstock costs, sluggish demand, and high inventories weighed on the market.
• April stability was supported by reduced plant operating rates, but muted downstream laminates, coatings, and construction demand prevented any meaningful price recovery despite port congestion at Qingdao.
• Prices held flat in May as production normalized and urea availability surged, lowering costs, while extended holidays in China and Japan slowed trading and kept buying activity muted.
• June declines were driven by oversupplied urea markets, weak real estate-linked consumption, and subdued export demand, prompting buyers to limit procurement to small, immediate needs.
Why did the price of Melamine remain stable in July 2025 in Asia?
• In July, the Melamine Price Index in Asia stayed flat at low levels as persistent oversupply, elevated inventories, and sluggish downstream demand kept sentiment subdued.
• The Melamine Production Cost Trend offered little support, with feedstock urea prices under pressure due to oversupply and weak buying interest, enabling producers to maintain low offers despite rising output.
• The Melamine Price Forecast suggests continued bearish pressure into August, with seasonal construction slowdowns in importing countries like India and new capacity additions in China expected to keep spot activity thin and prices under pressure.
Europe
• The Melamine Price Index in Germany trended lower through most of Q2 2025, with persistent price declines in April and May before a marginal rise in June, as soft demand from laminates, boards, and coatings and high inventories weighed on sentiment.
• April and May saw continued weakness as feedstock urea costs softened, LAT Nitrogen’s Piesteritz plant stayed offline, and construction-linked chemical demand in the Eurozone remained under pressure, despite seasonal expectations.
• June posted a slight price uptick, supported by firmer urea costs and reduced availability from maintenance at Grupa Azoty (Poland) and LAT Nitrogen Austria, though gains were capped by muted offtake and ongoing port and rail disruptions at Hamburg.
• Buyers avoided forward purchasing throughout the quarter, relying on contractual volumes and limited spot trades, as economic uncertainty, logistics bottlenecks, and the Eurozone’s construction downturn kept overall market fundamentals subdued.
Why did the price of Melamine remain stable in July 2025 in Europe?
• In July, the Melamine Price Index across Europe stayed flat at low levels as steady production and soft feedstock urea costs coincided with persistently weak downstream demand from laminates, engineered wood, and coatings sectors.
• The Melamine Production Cost Trend remained neutral, with stable urea prices and abundant upstream availability enabling producers to maintain competitive offers despite rising inventory pressure.
• The Melamine Price Forecast points to continued market softness into August, with eurozone construction activity remaining subdued and buyers expected to limit procurement to essential and contractual needs.
South America
• The Melamine Price Index in Brazil trended steadily downward in Q2 2025, with prices holding flat in early April but declining consistently through May and June as oversupply from Asian exporters, weak urea costs, and muted downstream demand pressured sentiment.
• April stability reflected balanced import flows and sufficient inventories, but sluggish laminates, coatings, and construction-linked demand, alongside falling freight rates, prevented any price support despite maintenance at overseas plants.
• Prices slipped further through May as urea prices weakened, supply from Asia normalized post-holidays, and buyers limited procurement to immediate needs while avoiding bulk restocking amid bearish market fundamentals.
• June’s steeper declines were driven by aggressive export offers, surplus inventories, slow project starts in Brazil’s construction sector, and limited downstream resin, coating, and board consumption, prompting most buyers to maintain a wait-and-see stance.
Why did the price of Melamine remain stable in July 2025 in South America?
• In July, the Melamine Price Index in Brazil stayed flat as discounted offers from Asian exporters, especially China, met subdued domestic demand from laminates, engineered wood, and coatings sectors.
• The Melamine Production Cost Trend remained soft, with weak urea prices in China lowering export costs, enabling suppliers to sustain competitive pricing despite temporary port delays at Qingdao.
• The Melamine Price Forecast signals continued bearish pressure into August, as sluggish construction-driven consumption, high interest rates, and cautious procurement keep spot market activity muted despite steady inbound flows.
For the Quarter Ending March 2025
North America
Throughout Q1 2025, the melamine market in North America exhibited a mixed trend. January saw stable prices as weak downstream demand and ample inventories kept the market subdued despite seasonal cold weather and modest gains in urea costs. Project delays across the construction sector and holiday season inactivity further restrained trading. In February, prices rose slightly as upstream urea costs increased, and non-residential construction lent some support to laminate and coatings demand. While residential activity remained soft, a gradual uptick in order volumes and improved business sentiment led to modest procurement.
By March, melamine prices edged higher again, driven by seasonal urea demand and improving downstream offtake in laminates, coatings, and molding compounds. U.S. manufacturing activity showed signs of recovery, supporting steady production.
Although long-term construction outlook remained cautious due to declining permits and completions, housing starts and employment data provided short-term momentum. Overall, higher input costs and gradual demand recovery contributed to the firming price trend toward quarter-end. Melamine prices in the U.S. closed Q1 2025 at USD 1,793/MT FOB Texas.
APAC
Throughout Q1 2025, the melamine market in APAC followed a mixed trend. In January, prices declined slightly due to weak feedstock urea costs, subdued downstream demand from laminates and coatings, and cold weather disruptions that stalled construction activities. Export volumes also declined sharply as purchasing interest from key regions like India and Vietnam weakened. Despite increased production capacity from new facilities, manufacturers-controlled output to manage high inventories and stabilize prices. In February, prices edged higher, supported by stronger urea costs amid rising spring farming demand. However, holiday-related shutdowns and limited export activity kept market momentum muted. By March, prices increased further due to ongoing supply-side constraints, including planned maintenance at key production facilities. Although demand remained moderate, with some improvement in downstream industries, sluggish real estate activity and cautious export procurement kept gains limited. With rising input costs and controlled production, the melamine market showed signs of strengthening, though the broader sentiment remained cautious. Melamine prices in China closed Q1 2025 at USD 808/MT FOB Qingdao.
Europe
Throughout Q1 2025, the melamine market in Europe followed a mixed trajectory. January saw prices edge down due to weak demand from downstream laminates and coatings, combined with holiday season slowdowns and rising competition from low-cost Asian imports. Construction-related activity remained minimal amid cold weather and delayed projects, further reducing melamine consumption. In February, prices rose slightly, supported by firmer urea costs and modest restocking; however, the uptrend was limited as demand stayed sluggish, especially in the coating and laminate sectors. Germany’s manufacturing output remained under pressure, while ongoing geopolitical and tariff-related uncertainties suppressed export confidence. By March, melamine prices resumed their decline amid continued demand weakness and stable feedstock costs. Construction and civil engineering sectors remained subdued across the eurozone, and poor industrial sentiment hindered any large-scale procurement. Port congestion in Hamburg, coupled with export delays, added logistical strain without stimulating trade activity. Overall, oversupply, high energy costs, and soft downstream demand defined a challenging market landscape. Melamine prices in Germany closed Q1 2025 at USD 1,550/MT FOB Hamburg.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American melamine market experienced a mixed trend. October saw rising prices driven by tight supply due to Tropical Storm Francine disruptions, low inventories, and strong downstream demand from the recovering U.S. construction sector. Rising feedstock urea prices, influenced by geopolitical tensions, further contributed to the upward pressure. By mid-October, prices increased further due to stronger urea and natural gas costs and robust downstream procurement.
In November, prices slightly increased after previous gains, attributed to steady downstream procurement despite improved supply and reduced urea prices. Sufficient inventories and cautious market sentiment moderated price movement. Growth in the construction sector supported demand, though other applications saw subdued activity.
In December, prices remained stable, gradually softening due to improved domestic supply and competitive APAC pricing. Subdued downstream demand, particularly from the construction sector impacted by rising mortgage rates, hurricane disruptions, and severe winter weather, influenced market sentiment. Manufacturers focused on destocking, and the holiday season further muted activity. Ending the quarter, the price for melamine in USA was recorded at USD 1,776/MT FOB Texas.
APAC
In Q4 2024, the APAC melamine market experienced significant volatility. October saw prices decline due to weakened Asian market conditions, contracted demand, oversupply, and lower urea feedstock costs, worsened by China's struggling construction sector. In November, prices surged due to low inventory levels before experiencing a decline amid persistent oversupply and sluggish downstream demand, despite increased production capacity. This surge was short-lived as market fundamentals reasserted themselves.
December saw further price declines due to weak urea support, muted downstream demand like coating, laminate etc driven by a continued construction slowdown, and cautious purchasing strategies among buyers. Overcapacity continued to weigh heavily on the market, limiting any upward price movement. These factors combined to create a bearish sentiment as the quarter drew to a close. Ending the quarter, the price for melamine in China was recorded at USD 803/MT FOB Qingdao. In Q4 2024, the APAC melamine market saw a volatile trend, with initial declines in October, a surge then slight decline in November, and further declines in December.
Europe
In Q3 2024, the European melamine market saw an increasing price trend in October, driven by persistent tight supply and rising costs. Robust demand from downstream sectors like laminates and coatings, coupled with strengthened cost support from rising urea prices due to geopolitical tensions, contributed to the upward pressure. Market supply remained constrained while demand outpaced available inventories. In November, the market trend became stable. Prices remained steady due to robust cost support from feedstock urea and improved supply conditions following the resumption of operations at a key melamine plant like LAT Nitrogen's resumption of operations at its Linz melamine plant. Balanced market fundamentals, supported by sufficient inventories and stable procurement, contributed to this stability. However, potential global price impacts from new production capacity in APAC were noted. In December, the market experienced a declining trend. Prices softened due to improved domestic supply, competitive pricing from APAC nations, and weakened demand from the struggling German construction sector. Manufacturers focused on destocking efforts, and the holiday season further muted market activity. Ending the quarter, the price for melamine in Germany was recorded at USD 1,641/MT FOB Hamburg.
For the Quarter Ending September 2024
North America
In Q3 2024, the North America melamine market experienced significant fluctuations in pricing trends. After a dip in July, prices began to rise steadily through August and September, supported by strong cost pressures from feedstock urea and increasing energy prices. Compared to the same period in 2023, melamine prices fell by 7.1%, in the USA market while they also recorded a 12.3% decline from Q2 2024. Despite these year-on-year and quarter-on-quarter drops, the market displayed signs of recovery toward the end of Q3.
Key drivers of this recovery included supply chain disruptions caused by Hurricane Beryl, which tightened supply, and a gradual rebound in downstream demand from sectors such as laminates, coatings, and adhesives. These factors helped strengthen market sentiment. On the supply side, continued tightness added upward pressure on prices.
The USA, a crucial market player, saw significant price increases, with melamine prices reaching USD 1,675/MT FOB Texas by the close of the quarter, signaling the market's recovery after earlier challenges.
APAC
Throughout the Q3 2024, the melamine market in the APAC region experienced a notable decline in prices. Several key factors contributed to this downward trend. Weak demand from downstream sectors, such as laminate, coating, played a significant role in the pricing dynamics. Seasonal factors, such as heavy rainfall, further impacted the melamine market by hampering construction activities, which affected the downstream industries. Additionally, limited cost support from feedstocks urea further weakened market confidence. The market sentiment remained negative due to sluggish global demand, new capacity additions during the quarter. Oversupply in the market, coupled with the declining urea prices, contributed to the negative pricing environment. In China, the market experienced the most significant price changes, with factors such as further restrictions on fertilizer exports impacting urea prices and subsequently melamine prices. The overall trend in China reflected a 18% decrease from the same quarter last year, with a 7.3% decline from the previous quarter in 2024. As the quarter ended, the spot price of melamine in China stood at USD 815/MT FOB Qingdao, reflecting the bearish sentiment throughout Q3.
Europe
In Q3 2024, the European melamine market experienced a shift in pricing trends, with notable fluctuations across the quarter. After a slight decline in July, prices began to rise steadily through August and September, driven by strong cost support from feedstock urea and rising energy prices. The quarter saw a 14.1% drop compared to the same period last year and a 7.6% decrease from Q2 2024. Despite these year-on-year and quarter-on-quarter declines, the melamine market showed signs of recovery toward the end of Q3. Key factors contributing to this upward trend included supply chain disruptions, tightening supply, and a gradual rebound in downstream demand, particularly from the laminates, coatings, and adhesives sectors. The flooding across central and eastern Europe, coupled with logistical challenges, further limited supply, adding pressure to prices. On the supply side, the melamine market continued to experience tightness. Germany, a key player in the market, witnessed significant price increases, with melamine prices reaching USD 1,553/MT FOB Hamburg by the end of the quarter.
South America
In Q3 2024, the South American region witnessed a notable decline in Melamine prices, primarily driven by high inventory levels and subdued demand from key downstream sectors such as laminates and coatings. The market was characterized by sluggish procurement activities, reflecting a lack of enthusiasm for fresh purchases amidst weak market sentiment. Additionally, factors like ample supply, low demand, and reduced momentum in end-use industries contributed to the bearish pricing environment. Brazil, experiencing the most significant price changes, saw a consistent downward trend throughout the quarter. However, the -11.7% change from the same quarter last year indicated a challenging market scenario, further exacerbated by the 9.9% decrease from the previous quarter in 2024. The second half of the quarter recorded a substantial drop in prices compared to the first half, underscoring the persistent downward pressure on Melamine prices. The quarter ending price of USD 1104/MT CFR Santos in Brazil marked the culmination of a consistently negative pricing trend, highlighting a challenging period for the market.
FAQs
1. What is the current price of Melamine?
Prices remain flat to slightly weak across most regions. Asia and South America see subdued pricing due to oversupply, while North America and Europe maintain low, steady levels amid weak demand and soft cost structures.
2. Who are the top Melamine producers globally?
Key producers include BASF, OCI Nitrogen, Methanol Holdings (Trinidad), Xinjiang Yankuang, and Henan Tianqing, which dominate regional supply networks across Asia, Europe, and the Americas.
3. What is the Melamine Price Forecast for August 2025?
Prices are expected to trend modestly lower globally, driven by seasonal demand weakness in construction-related applications and cautious procurement behavior, with no significant supply disruptions to offset bearish fundamentals.
4. How is the Melamine Production Cost Trend impacting global prices?
Persistently low urea prices—linked to oversupply and weak global fertilizer demand—are keeping melamine production costs low, allowing producers and exporters to sustain competitive offers despite limited downstream offtake.
