Qingdao (China): In April xxxx, China&#xx;s domestic Melamine market witnessed a decline in prices, echoing subdued demand from various downstream sectors like laminate, furniture, and coatings, which are affected by a slowdown in construction activities. This downward trend has persisted for the past three months, exacerbated by ongoing challenges in China&#xx;s real estate market, notably marked by a significant drop in home sales.
Preliminary data from the China Real Estate Information Corp. indicated a sharp xxx decrease in the value of new-home sales compared to the previous year, following a xxx decline in February. Negotiations in the Melamine market gravitated towards lower levels due to weak demand, reflecting a broader decline in profitability, such as the xx.xx net profit drop reported by Chinese producer Sinopec for xxxx, attributed to falling product prices and operational losses in the chemical sector. Amidst this downturn, some companies offered discounts...
