Busan (South Korea): Throughout February xxxx, the South Korean Melamine market witnessed a persistent downturn, mainly due to reduced demand from downstream laminate and other end-use industries. The price of urea, a key feedstock, also experienced a decline due to weak demand from downstream agrochemical enterprises, exacerbated by subdued inventory levels in storage facilities. Additionally, the Lunar New Year holiday in Asia further impacted prices, leading to decreased procurement activity in the market.
Melamine prices in South Korea experienced a significant downturn throughout February, reflecting a bearish sentiment in the market. This decline was exacerbated by an oversupply situation, with manufacturers grappling with increased inventory levels and subdued buying sentiments. The market faced additional challenges from disruptions in overseas demand, including issues in the Red Sea and staff shortages, further dampening market dynamics. As a result, the overall market sentiment remained bearish, with high supply levels contributing...
