Shanghai (China): Throughout February xxxx, the Chinese Melamine market experienced a prolonged period of sluggishness, predominantly influenced by diminished demand from downstream laminate and other end-use sectors. The price of urea, a crucial raw material for Melamine production, also saw a decline owing to tepid demand from downstream agrochemical enterprises, compounded by subdued inventory levels in storage facilities. Furthermore, the Lunar New Year holiday in Asia exerted additional pressure on prices, resulting in reduced procurement activity within the market.
Melamine prices in China continued their downward trend, reflecting a bearish sentiment prevailing in the domestic market. This decline was exacerbated by an oversupply situation, with manufacturers contending with elevated inventory levels and subdued buying sentiments. Moreover, disruptions in overseas demand, such as issues in the Red Sea and staffing shortages, added to the market&#xx;s challenges, further dampening market dynamics.
Consequently, the overall market sentiment remained...
